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BASF SE to acquire Bayer's seed and non-selective herbicide businesses

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For all purchase price of EUR 5.9 million

has received information from its parent Company, BASF SE, Germany that it has signed an agreement to acquire significant parts of Bayer's seed and non-selective herbicide businesses which are being divested by Bayer in the context of its planned acquisition of Monsanto. The all-purchase price by BASF SE is EUR 5.9 billion, subject to certain adjustments at closing.

The said transaction is subject to the closing of Bayer's acquisition of Monsanto and approval by relevant authorities. The transaction is expected to close in the first quarter of 2018.

The assets to be acquired include Bayer's global glufosinate-ammonium non-selective herbicide business, commercialized under the Liberty, Basta and Finale brands, as well as its seed businesses for key row crops in select markets: canola hybrids in North America under the InVigor brand using the LibertyLink trait technology, oilseed rape mainly in European markets, cotton in the America and Europe as well as soybean in the America. The transaction also includes Bayer's trait research and breeding capabilities for these crops and the LibertyLink trait and trademark.

The acquisition complements BASF's crop protection business, strengthens its herbicide portfolio and marks its entry into the seed business with proprietary assets in key agricultural markets.

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

First Published: Fri, October 13 2017. 12:36 IST