The Competition Commission of India (CCI; New Delhi) on Tuesday approved Bayer’s acquisition of Monsanto, subject to conditions. CCI tweeted, “CCI approves acquisition of Monsanto by Bayer, subject to compliance of certain modifications.” Both Bayer and Monsanto have subsidiaries in India, making it mandatory for them to receive clearance from the CCI.
“Obtaining clearance from the CCI is another milestone towards the global acquisition of Monsanto. The combination brings together two different, but highly complementary businesses. Our combination with Monsanto will create a truly global leader in agriculture with a broad portfolio, providing a superior product offering and tailor-made solutions to farmers across all crops in all geographies,” Bayer says. In India, both Bayer CropScience Limited and Monsanto India Limited are listed on the stock exchange.
In line with global remedies, the conditions cover in particular the divestment of certain Bayer businesses, including the global vegetable seeds business and the global glufosinate ammonium business. “In addition, specific commitments in relation to India [among] others include the divestment of Monsanto’s shareholding in [Maharashtra Hybrid Seeds Co. Private Ltd.] Mahyco, and to grant non-exclusive, non-transferable, non-sublicensable, royalty bearing licenses on fair, reasonable, and non-discriminatory terms to its digital farming products and platforms commercialized in India. The conditions also stipulate maintaining non-exclusive distribution channels, and a policy of [broad-based], non-exclusive licensing of GM and non-GM traits currently commercialized in India or to be introduced by the combined entity in the future, on fair, reasonable, and non-discriminatory basis,” Bayer says.
Monsanto is a joint venture partner with Mahyco in Mahyco Monsanto Biotech, which introduced the Bt cotton GMO crop to India. Bayer plans to finalize the Monsanto acquisition by the end of this quarter.
By Natasha Alperowicz
Source: Chemical Week
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
