March 07, 2018
Bayer in exclusive talks with BASF on the sale of vegetable seeds business
Leverkusen, March 7, 2018- Bayer is in exclusive talks with BASF on the sale 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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