What is the relationship between 'Covestro' and 'Bayer' in the context of the input sentence.
Options: chief executive officer, employer, owned by, parent organization

LEVERKUSEN, Germany—German pharmaceuticals group Bayer AG on Tuesday moved a step closer to floating its €11 billion ($12.38 billion) specialty chemicals business by legally and economically separating the unit, now named Covestro AG.
owned by