BASF has signed an agreement to acquire assets from Bayer which it agreed to divest of as part of the merger
Bayer agreed to divest of the assets as part of its takeover of Monsanto. It expands on a previous agreement announced in October.
The all-cash purchase price for the combined acquisition is €7.6 billion (£6.67bn).
Dr. Kurt Bock, chairman of the board of executive directors said: “With this acquisition, BASF will become an even better partner for farmers by strengthening our crop protection portfolio and entering the seeds business in key agricultural markets.
“Through the expanded scope, we are accelerating and broadening the basis for growth across all regions.”
include Bayer’s entire vegetable seeds business, seed treatment products sold under the Poncho, VOTiVO, COPeO and ILeVO brands and the R&D platform for hybrid wheat.
It also includes Bayer’s oilseed rape business in Australia; certain glyphosate-based herbicides in Europe.
The agreement in October included Bayer’s global glufosinate-ammonium non-selective herbicide business; seeds businesses for key row crops in select markets and trait research and breeding capabilities for these crops along with the LibertyLink trait and trademark.