BASF said today that it has closed the acquisition of selected agricultural chemicals businesses and assets from Bayer. The transaction complements BASF’s crop protection, biotech, and digital farming activities and marks its entry into seeds, nonselective herbicides, and nematicide seed treatments. BASF’s proforma ag sales will rise by close to 40% as a result of the deal.
BASF signed agreements in October 2017 and April 2018 to acquire the businesses and assets Bayer offered to divest as part of antitrust requirements for its acquisition of Monsanto, for an all-cash purchase price of €7.6 billion ($8.9 billion), subject to certain adjustments at closing. About 4,500 employees will join BASF through the acquisition. The agreements include Bayer’s global glufosinate-ammonium business; seeds businesses including traits, research and breeding capabilities, and trademarks for key row crops in select markets; the vegetable seeds business; the R&D platform for hybrid wheat; a range of seed treatment products; certain glyphosate-based herbicides in Europe, used predominantly for industrial applications; a digital farming platform; and certain nonselective herbicide and nematicide research projects. The vegetable seeds acquisition is expected to close in mid-August 2018.
Saori Dubourg, member of the board of BASF/agricultural solutions, said the acquisition opens up new opportunities for BASF’s ag businesses. “It strengthens our market position in agricultural solutions and creates new opportunities for growth.”
In 2017, BASF reported crop protection sales of €5.7 billion and the operations being acquired from Bayer, including the vegetable seeds business, recorded 2017 sales of €2.2 billion. To reflect the expanded scope of its agriculture business, BASF has renamed the division from crop protection to agricultural solutions. In addition, the division has established a new business unit for seeds and traits.
By Natasha Alperowicz
Source: Chemical Week
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