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Bayer to sell digital farming business to win approval for Monsanto deal

Reuters  |  FRANKFURT 

(Reuters) - said it was planning to sell its digital farming business, and not just grant a licence to competitors, to win antitrust approval for the planned takeover of

In addition, certain will be offered for sale instead of Monsanto's seed treatment brand.

"These changes have been made in response to corresponding indications from regulators," Germany's said in a statement on Wednesday.

on Monday cited people familiar with the matter as saying the had reached an agreement in principle with and after the companies agreed to sell more assets.

Bayer, which has already secured conditional European approval, declined to comment on Wednesday which regulator had prompted it to make the changes.

It added that was the intended purchaser of all the assets it was selling.

In a separate statement, the said on Wednesday it had approved a request by to make two modifications to the commitments it made to get approval for the purchase.

The competition watchdog said it was still assessing whether was a for the units under an April 30 deadline.

(Reporting by Ludwig Burger; Editing by Arno Schuetze)

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

First Published: Wed, April 11 2018. 19:51 IST