Bayer to sell seed business to BASF
Germany
Wednesday 02 May 2018
FJ
Bayer sells its seed business to BASF, marketed under the NUNHEMS brand (more than 25 species, more than 1,200 varieties).
In order to facilitate its planned operation on MONSANTO, the German giant BAYER will sell its seeds business of Fruits & Vegetables marketed under the brand Nunhems and an insecticides sector to its compatriot BASF.
BAYER and BASF reported in March that they had started exclusive negotiations for the sale. The European Commission is concerned about the competitive consequences of operation BAYER / MONSANTO issued a conditional license. Conditions that included the sale by BAYER of some of its activities.
BAYER sells to BASF all of its Fruit and Vegetable seeds, marketed under the Nunhems brand, as well as insecticides (Poncho, Votivo, Copeo, Ilevo brands) and the Xarvio digital agriculture offer. These activities represented a turnover of €745 million last year.
Operation BAYER-BASF remains conditioned to BASF's operation on MONSANTO, which should be finalized by the summer.
source : zonebourse com, lafranceagricole fr