Bayer to sell part of its business due to purchase of Monsanto
Bayer chose to make this move in order to address concerns of European regulators over the proposed acquisition of the American company Monsanto for USD 63.5 billion, Reuters reports.
To clarify, the European Commission had warned that the transaction might limit competition in the segment of pesticides and seeds.
In October 2017, Bayer reached an agreement with Germany’s BASF on the sale of its seed and herbicide business for EUR 5.9 billion. This vegetable seed business, carried out under the Nunhems brand, encompasses more than 1,200 seed varieties and 25 vegetable cultures.
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