German himiko-pharmaceutical concern Bayer AG sell your crop unit to BASF for EUR 5.9 billion, reports the press service of Bayer.
The sale will be held in compliance with the antitrust regulators to complete the transaction with Bayer Monsanto.
Bayer will sell the global unit for the production of one of the pesticides and the associated business technologies herbicidetolerant that are key to all units of the seed. The transaction involves the transfer of intellectual property, property and more than 1.8 thousand employees in the USA, Germany, Brazil, Canada and Belgium.
Earlier it was reported that Bayer AG agreed to buy Monsanto Co, the manufacturer of seeds and agricultural chemical products from the United States. The new facility will become the world’s largest supplier of seeds and pesticides. The total amount of the transaction is more than $65 billion.
Bayer AG comprises over 300 companies in different countries, the range of products has about five thousand names in the field of health, plant protection products and high-tech materials.
BASF is a German company that manufactures chemicals, plastics, specialty products, plant protection products, along with its subsidiaries engaged in oil and gas production. The company operates in more than 80 countries around the world.