Home / Business / Bayer sells additional business to BASF | because of the Monsanto store 26/4/18

Bayer sells additional business to BASF | because of the Monsanto store 26/4/18

In the fight for the acquisition of the American chemical giant Monsanto, Bayer meets the requirements of the antitrust authorities.

More crop research activities will be sold to the chemical company BASF for about EUR 1.7 billion, the company said Thursday evening. "By doing so, we fulfill commitments we made to the European Commission and other regulatory authorities to facilitate the successful implementation of the Monsanto transaction," said Bayer CEO Werner Baumann.

The divested businesses included the global vegetable seed business, some seed treatment products, a research platform for wheat hybrids and certain glyphosate-based herbicides in Europe. In return, Bayer may use certain digital agricultural applications through licenses that are also to be sold to BASF.

Bayer already valued in October one year earlier BASF for the sale of additional parts of its seed store of 5.9 billion euros. Among other things, this vegetable seed and glufosinate ammonium included.

Bayer complies with the requirements of the antitrust authorities for approval of the Monsanto Agreement. Sales to BASF must still be approved.

The Leverkusen-based company aims to become the world's largest seed and plant protection company with EUR 62.5 billion acquisition and be the leader in digital agriculture. The European Commission has already approved the project with conditions. The important agricultural market Brazil has already given its okay. However, in the United States, a final decision is not yet dependent ./maa/DP/zb

LEVERKUSEN (awp international)

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