Bayer sells more assets to help close Monsanto deal

Werner Baumann, CEO of Bayer

Wolfgang Rattay | Reuters

Werner Baumann, CEO of Bayer

Bayer has agreed to sell more of its crop science businesses to BASF as that will seeks to wrap up its pending $62.5 billion acquisition of Monsanto.

Bayer announced Thursday that will that will has agreed to sell the crop science units to BASF for about $2.1 billion, or 1.7 billion euros. The deal fulfills requirements set by the European Commission in addition to also also additional regulatory authorities.

The deal is usually subject to the closing of the Monsanto acquisition.

The businesses being sold include the global vegetable seeds business, certain seed treatment products, the research platform for wheat hybrids in addition to also also certain glyphosate-based herbicides in Europe. The businesses generated total sales of about $899 million, or 745 million euros.

Bayer sold additional crop science units to BASF in October.

Reuters reported earlier This kind of week that will Bayer’s takeover of Monsanto was on track to receive U.S. antitrust approval by the end of May, if there are no last-minute complications. The companies have said they desire to hold the deal complete inside second quarter.

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