The German chemical and pharmaceutical concern Bayer AG will sell its plant units to the BASF concern for 5.9 billion euros, the Bayer press-service informs. The sale will take place within the terms of the antitrust regulator to complete the transaction of Bayer with Monsanto.
Bayer will sell a global unit for the production of one of the pesticides and related technology business on herbicide resistance, which are key for all seed units. The transaction involves the transfer of intellectual and property assets, the transfer of personnel (more than 1.8 thousand employees in the US, Germany, Brazil, Canada and Belgium).
Earlier it was reported that Bayer AG agreed on the purchase of Monsanto Co, a seed producer and agricultural chemical products from the United States. The new structure will become the world's largest supplier of seeds and pesticides. The total amount of the transaction will be over $ 65 billion. Bayer AG unites over 300 companies in different countries, the range of products includes about five thousand names in the field of public health, plant protection products and high-tech materials. BASF is a German company that produces chemicals, plastics, specialty products, plant protection products, its subsidiaries are engaged in oil and gas production. The company operates in more than 80 countries.
Source: zol.ru.
