BASF to acquire Crop Science Business of Bayer for $2.1bn.

BASF, a chemical company, completed the acquisition of Bayer Crop Science businesses for $2.1bn. The businesses being divested include in particular the global vegetable seeds business, certain seed treatment products, the research platform for wheat hybrids and certain glyphosate-based herbicides in Europe that are predominantly used in industrial applications. In addition, three research projects in the field of total herbicides and Bayer’s digital farming business will also be transferred. In return, Bayer will receive a back license for certain digital farming applications. “With this move, we are implementing the corresponding undertakings made to the European Commission and other regulatory authorities to allow the successful closing of the Monsanto transaction,” Werner Baumann, Bayer Chairman of the Board of Management.