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
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.
