Bayer to begin Monsanto integration
August 23, 2018
German chemicals firm Bayer has completed the divestment of some of its assets to its compatriot BASF and can begin integrating Monsanto into its organisational structure.
Bayer closed the deal on buying Monsanto already on 7 June, but the US Department of Justice required the company to hold off on integration until it sold off certain assets, wrote Reuters on 17 August.
Bayer said in April that the €1.7bn (US$2bn) deal with BASF included Bayer’s global vegetable seeds business, certain seed treatment products, a research platform for wheat hybrids and certain glyphosate-based herbicides in Europe that were primarily used in industrial applications.
“The integration of Monsanto into the Bayer Group can begin following the completion of the divestment by Bayer to BASF of certain crop science businesses with a total sales volume of around €2.2bn (US$2.5bn),” said Bayer.