Multinational chemical company, BASF, is in the process of acquiring a range of businesses from Bayer for about €7,6 billion (R116,6 billion). Competition regulatory authorities around the world required Bayer to divest itself from these businesses to gain approval for the acquisition of Monsanto.
A Bayer statement said that in the first stage of the transaction, some of its crop science businesses would be sold to BASF for €5,9 billion (R90,5 billion), including Bayer’s global glufosinate-ammonium business, the LibertyLink technology for herbicide tolerance, and almost all Bayer’s field crop seed businesses. BASF said the company would also be acquiring further Bayer businesses for €1,7 billion (R26,1 billion), including Bayer’s vegetable seed business, seed treatment products, the research and development platform for hybrid wheat, and the digital farming platform, Xarvio.…