Sector News

Bayer to sell more crop science businesses to BASF

April 27, 2018
Chemical Value Chain

Bayer AG said Thursday that it has signed an agreement to sell further Crop Science businesses to BASF SE for up to 1.7 billion euros ($2.07 billion) as part of its planned acquisition of Monsanto Co.

These businesses generated sales of EUR745 million euros in 2017, Bayer said, and about 2,500 employees will transfer to chemicals company BASF as part of the deal. Bayer will use the proceeds–after taxes and adjustments–to help finance its proposed acquisition of Monsanto.

The businesses to be divested include the global vegetable-seeds business, certain seed-treatment products, the research platform for wheat hybrids and certain glyphosate-based herbicides in Europe that are predominantly used in industrial applications, Bayer said.

In addition, three research projects in the area of herbicides and Bayer’s digital-farming business will be transferred to BASF. Bayer will receive a back license for certain digital-farming applications in return, it said.

Last year, Bayer and BASF had already reached an agreement for the sale of certain Crop Science businesses for EUR5.9 billion. The businesses in that package–including Bayer’s glufosinate-ammonium business and related LibertyLink technology for herbicide tolerance, along with essentially all the company’s field-crop seeds businesses–generated 2017 sales of EUR1.5 billion.

The deal is subject to regulatory approval and the successful closing of Bayer’s acquisition of Monsanto.

By Sarah Sloat

Source: MarketWatch

 

comments closed

Related News

November 27, 2022

ICIG to acquire MSSA from Nippon Soda

Chemical Value Chain

International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.

November 27, 2022

FIFA World Cup: Coca-Cola launches 100% recycled PET bottles to promote Qatari recycling

Chemical Value Chain

Aligning with the SC’s key initiatives on responsible plastic recycling, Coca‑Cola Middle East’s pilot of 100% rPET bottles marks the first time the packaging will be in circulation at a FIFA World Cup tournament and serves as Coca‑Cola’s debut in locally producing the bottles in the region.

November 27, 2022

Neste acquires another used-oils business in the U.S.

Chemical Value Chain

Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions (…) the transaction continues to enhance Neste’s global raw materials sourcing platform.