Bayer CropScience to sell additional products to Makhteshim-Agan
The agreements with Makhteshim-Agan include the products Baythroid®, Bulldock®, Metasystox®, Nemacur® and Afalon®.
Sales for the listed products amounted to EUR 36 million in 2001. The purchase price for the transaction has been set at EUR 52 million, including inventories.
The European Commission had cleared in April 2002 the acquisition of Aventis CropScience by Bayer subject to conditions of which the now agreed upon divestments are part.
"We are pleased with this outcome", said Dr. Jochen Wulff, Chairman of the Board of Management of Bayer CropScience AG. "With these agreements we have nearly completed the divestment process as required by the relevant antitrust authorities", he added. "We are confident to submit also the remaining divestment agreements to the authorities within the given timeframe."
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