BASF in exclusive talks with Bayer to acquire vegetable seeds business
09.03.2018 17:43 "Agro Perspectiva" (Kyiv) —
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. Definitive agreements have not been concluded. With this transaction, BASF targets to enhance its future seed platform and the market position of its Agricultural Solutions business.
On October 13, 2017, BASF signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses. The all-cash purchase price is ˆ5.9 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.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of ˆ64.5 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
About BASF’s Crop Protection division
With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. BASF’s Crop Protection division works with farmers, agricultural professionals, pest management experts and others to help make this possible. With their cooperation, BASF is able to sustain an active R&D pipeline, an innovative portfolio of products and services, and teams of experts in the lab and in the field to support customers in making their businesses succeed. In 2017, BASF’s Crop Protection division generated sales of ˆ5.7 billion. For more information, please visit us at www.agriculture.basf.com or on any of our social media channels.
This release contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward-looking statements contained in this release above and beyond the legal requirements.