BASF has closed the acquisition of a range of businesses and assets from Bayer.
The transaction, the company says, is a “strategic complement” to BASF’s crop protection, biotech and digital farming activities and marks its entry into seeds, non-selective herbicides and nematicide seed treatments. A spokesperson for BASF says the move “adds excellent assets” to the BASF portfolio.
BASF signed agreements in October 2017 and April 2018 to acquire the businesses and assets Bayer offered to divest to allow approval of its acquisition of Monsanto, for an all-cash purchase price of 7.6 billion euros, subject to certain adjustments at closing.
BASF acquired Bayer’s vegetable seeds business, the Liberty herbicide brand, a research and development platform for hybrid wheat and a range of seed treatment products. The transactions are now completed, except for the vegetable seeds business for which closing is expected in mid-August 2018.
Source: National Association of Farm Broadcasting News Service.