BASF in exclusive talks with Bayer to acquire vegetable seeds business
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The German based chemical corporation BASF is in exclusive talks to acquire Bayer’s entire vegetable seeds business, operating under the global trademark Nunhems®. Bayer intends to divest this business in the context of its planned acquisition of Monsanto. With this transaction, BASF targets to enhance its future seed platform and the market position of its Agricultural Solutions business. Definitive agreements have not been concluded, says a press release.
According to the BASF release the company signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses. The all-cash purchase price is €5.9 billion, subject to certain adjustments at closing. The assets to be acquired include Bayer’s global glufosinate-ammonium non-selective herbicide business as well as its seed businesses for key row crops in select markets: canola hybrids in North America under the InVigor® brand using the LibertyLink® trait technology, oilseed rape mainly in European markets, cotton in the Americas and Europe as well as soybean in the Americas.
The transaction also includes Bayer’s trait research and breeding capabilities for these crops and the LibertyLink® trait and trademark. "This acquisition complements BASF’s crop protection business and marks its entry into the seed business with proprietary assets in key agricultural markets", explains the corporation.
The BASF Group has more than 115,000 employees iand customers in nearly all sectors and almost every country in the world. The portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of €64.5 billion in 2017, the Crop Protection division generated sales of €5.7 billion.