March 07, 2018
Bayer in exclusive talks with BASF on the sale of vegetable seeds business
of its entire vegetable seeds business. Through this and related moves, Bayer
is confident of fully addressing all concerns of the European Commission.
On October 13, 2017, Bayer had already agreed to sell selected Crop Science
businesses to BASF for 5.9 billion euros. This first package covers Bayer's
global glufosinate-ammonium business and the related LibertyLink™ technology
for herbicide tolerance, essentially all of the company's field crop seed
businesses, and the respective research and development capabilities. The seed
businesses being divested include the global cotton seed business (excluding
India and South Africa), the oilseed rape/canola business in North America and
Europe, and the soybean seed business.
Any sales and licenses would be subject to a successful closing of the proposed
acquisition of Monsanto, which remains subject to customary closing conditions,
including receipt of required regulatory approvals. The European Commission
recently extended the examination deadline for the acquisition until April 5.
Bayer is working closely with the authorities worldwide in order to
successfully close the transaction in the second quarter of 2018.
Bayer is a global enterprise with core competencies in the Life Science fields
of health care and agriculture. Its products and services are designed to
benefit people and improve their quality of life. At the same time, the Group
aims to create value through innovation, growth and high earning power. Bayer
is committed to the principles of sustainable development and to its social and
ethical responsibilities as a corporate citizen. In fiscal 2017, the Group
employed around 99,800 people and had sales of EUR 35.0 billion. Capital
expenditures amounted to EUR 2.4 billion, R&D expenses to EUR 4.5 billion. For
more information, go to www.bayer.com.
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