Bayer divests more units to BASF to close Monsanto deal

Apr 27, 2018

Bayer AG agreed to sell more pieces of its agriculture business to BASF SE for as much as $2.1 billion as it looks to close its $66 billion purchase of Monsanto.

In order to satisfy European Union regulatory authorities, Bayer will sell its vegetable seeds business, some seed treatments and research on wheat hybrids, herbicides and digital farming to BASF.

The Bayer-Monsanto deal is the last of three big transactions that are reshaping global farming. First announced in September 2016, Bayer had previously hoped to close the deal in early 2018, but negotiations with antitrust authorities in jurisdictions such as Europe, Russia and the United States have dragged on.

Read the Bayer press release