(23) Net cash flows from investing activities
Net cash outflows from investments in financial assets amounting to € 278 million (2019: € 196 million) mainly resulted from short-term investments in securities not classified as cash and cash equivalents.
In the previous year, net cash outflows from acquisitions less cash and cash equivalents acquired included primarily the payments made for the acquisition of Versum Materials, Inc., United States, in the amount of € 4,928 million.
Net cash inflows from the disposal of other financial assets in the amount of € 340 million (2019: € 140 million) related primarily to the sale of short-term investments in securities not classified as cash and cash equivalents, as well as the sale of the equity interest in Progyny, Inc., United States.
Payments for investments in property, plant and equipment included the payment for the acquisition of the previously leased land and buildings of the Life Science Campus in Burlington, United States.
As in the previous year, the payments made and received in connection with the acquisition and disposal of other non-financial assets resulted from the short-term investment of available funds.
The proceeds from the disposal of assets held for sale less transferred cash and cash equivalents resulted largely from the sale of the Allergopharma allergy business. The payments made in connection with the disposal of assets held for sale reported in the previous year were primarily due to tax payments relating to the divested Consumer Health business.