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Bayer reports progress in talks with Russia over Monsanto deal

Reuters  |  MOSCOW 

(Reuters) - said on Wednesday progress was being made in talks with Russia's competition FAS over the company's planned takeover of

"We moved ahead in the negotiations with FAS towards a mutually beneficial agreement to support the competitiveness of Russian agriculture, including transfer of technologies," said in an emailed statement.

"It is important that we have found common ground for the key milestones with the intent to approve the acquisition of in the nearest future," said.

The German company last month filed a lawsuit in a against FAS after it made any approval conditional on Bayer sharing plant breeding technologies in among other remedies, while extending the review of the deal.

An arbitration court in on Wednesday postponed the preliminary hearing of Bayer's lawsuit until April 11 at the German company's request, Russian agencies reported.

(Reporting by Polina Devitt; Writing by Maria Kiselyova; Editing by Mark Potter)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 22:14 IST