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China's commerce ministry conditionally approves Bayer's acquisition of Monsanto

Reuters  |  BEIJING 

BEIJING (Reuters) - China's commerce ministry said on Tuesday it has conditionally approved the German drug and crop chemicals maker Bayer's acquisition of the world No. 1 seed company Monsanto.The ministry also ordered Bayer to spin off some businesses globally, including vegetable seeds, corn, soybean, cotton, and herbicide, according to a statement posted on its website.Bayer has already pledged to sell certain seed and herbicide assets for 5.9 billion euros ($7.27 billion) to BASF to address EU regulatory concerns.($1 = 0.8114 euros) (Reporting by Beijing Monitoring Desk; Editing by Shri ...

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First Published: Tue, March 13 2018. 14:59 IST