Bayer CropScience agrees to products divestments to Makhteshim-Agan

04-Oct-2002

Monheim October 2, 2002 - Bayer CropScience has agreed to sell or license out a number of crop protection products to Israel-based agrochemicals company Makhteshim-Agan Industries Ltd. pending the approval by the European Commission and national antitrust authorities.

The European Commission had cleared last April the acquisition of Aventis CropScience by Bayer subject to conditions of which the now agreed upon divestments are part.

"After very intensive and focussed negotiations we are pleased to have reached an agreement with Makhteshim-Agan", said Dr. Jochen Wulff, Chairman of the Board of Bayer CropScience. "This is another important step forwards in our efforts to complete all required divestitures within the given timeframe", he added.

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