BASF has completed its acquisition of a range of businesses and assets from Bayer.

The sale was a condition of Bayer's acquisition of Monsanto.

"This strategic move adds excellent assets to our strong agricultural solutions portfolio and enhances our innovation potential. Overall, it ensures an even more comprehensive and attractive offering to our customers," said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors and Chief Technology Officer of BASF SE.

The transaction marks BASF's entry into seeds, non-selective herbicides and nematicide seed treatments.

About 4,500 employees will join the company through the acquisition. BASF has renamed the division from Crop Protection to Agricultural Solutions.

In addition, the division has established a new global business unit for seeds and traits.

BASF signed agreements in October 2017 and April 2018 to acquire the businesses and assets Bayer offered to divest in the context of its acquisition of Monsanto, for an all-cash purchase price of 7.6 billion euro ($11.5 billion CAD), subject to certain adjustments at closing.

The agreements include: - Bayer's global glufosinate-ammonium business; - seeds businesses including traits, research and breeding capabilities, and trademarks for key row crops in select markets; - the vegetable seeds business; - the R&D platform for hybrid wheat; - a range of seed treatment products; - certain glyphosate-based herbicides in Europe, used predominantly for industrial applications; - the complete digital farming platform xarvioTM; - certain non-selective herbicide and nematicide research projects.

These transactions are now completed, except for the vegetable seeds business for which closing is expected in mid-August 2018.

Canada's Competition Bureau approved BASF's acquisition of Bayer's LibertyLink canola system back in June, under the condition is that BASF sell its Clearfield canola system.

More Ag News

2019 Saskatchewan Agriculture Scholarship Applications Now Open

The theme ‘Our Food has a Story,’ is designed to get young people thinking about the relationship between agriculture and the food they eat. Agriculture Minister David Marit says the scholarship…

Bunge Getting Pushed To Make Changes

The Wall Street Journal is reporting that investment firm D.E.Shaw & Co. has boosted its stake in Bunge Ltd. and is pushing the grain trader to make operational improvements and add board members.…

Canada Secures Access In Key ASEAN Markets

The Government of Canada has announced new market access for live cattle exports to the Philippines, as well as sheep and goat genetics exports to Indonesia and the Philippines. “Canada is building…

Healing And Health Through Food

The Canadian Centre for Agri-Food Research in Health and Medicine in Winnipeg is doing work to learn more about harnessing the health benefits of the food we eat. Researchers are working on foods,…

Cereals Canada Takes Part In Italy Meetings

Cereals Canada President Cam Dahl joined Federal Agriculture Minister Lawrence MacAulay during a stop in Italy last week. The two took part in talks surrounding country of origin labeling on pasta,…

Saskatchewan Is Key Player In Global Fertilizer Industry

A change in the weather should see some good harvest activity over the next week. Farmers continue to work on increasing production to meet growing population needs and for many producers, fertilizer…

Still Time To Donate To FCC Drive Away Hunger Campaign

Farm Credit Canada’s Drive Away Hunger Campaign helps to provide meals for food banks here in Saskatchewan and across Canada. Individuals are encouraged to stop by their local FCC office or…

North West Terminal Cancels Weekend Deliveries After Fire

The office at North West Terminal re-opened Friday, following a fire early Thursday morning. North West Terminal thanking the Unity Fire Department and all the volunteers for their efforts and…

USDA October WASDE Report 'Modestly Friendly'

There was a slight bump in the markets Thursday following the release of the USDA October World Agricultural Supply and Demand Estimates (WASDE) report. Jon Driedger, senior market analyst with…

Update On Grain Dryer Fire At North West Terminal

Unity RCMP sending out an update on that fire at the North West Grain Terminal. As of 3:22 pm on Thursday RCMP and Unity Fire crews were still at the scene of the fire. RCMP responded to a call of a…

DiscoverMooseJaw.com is Moose Jaw's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login