Bayer CropScience AG to sell a range of products to BASF
"After the sale of these products, Bayer CropScience can now focus entirely on developing its business and expanding its market position", said Werner Wenning, Chairman of the Board of Management of Bayer AG.
"Cash-in from the sale also contributes to improving the Group´s financials, as does the cash inflow from the other divestments we have already announced."
"Following a very competitive auction process and intensive negotiations with several interested parties we are pleased to have reached an agreement with BASF," added Dr. Jochen Wulff, Chairman of the Board of Management of Bayer CropScience AG. "The purchase price agreed represents a fair compensation for the required divestments. I am also pleased that we were able to retain licence rights to market Fipronil and its mixtures in certain non-agricultural markets within the scope of the FTC consent order," emphasized Wulff. "The integration of the Aventis CropScience operations is moving ahead quite rapidly and we continue to focus our efforts on the further integration and strategic development of the new Bayer CropScience."
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