InfoSAWIT, JAKARTA - BASF has just accomplished the asset acquisition from Bayer. It is the strategic transition to complete plantation protection business in BASF, biotechnology, and digital agriculture. Besides the transaction is the sign that BASF would join seed, non – selective herbicide, and nematicide seed nursery businesses.
“The strategic business multiplies the strong asset in our agriculture portofolio and would develop our potential innovation. In a whole, this would give more complete offer and be interested in our customers,” Chairman of Executive Director Board and Head of Technology Development, BASF SE., Martin Brudermüller said.
The member of Executive Director Board BASF SE, Saori Dubourg told that the acquisition would make changes from the agriculture sector in BASF, and strengthen the position in agriculture sector, and also make chance to develop for the Agricultural Solution.
BASF signed the Memorandum of Understanding (MoU)in October 2017 and April 2018 to acquire the business and asset in Bayer to be divestment in relationship with the acquisition of Monsanto done by Bayer. BASF purchased it reaching €7,6 billion in cash and would adjust to the closing numbers. About 4.500 workers would join BASF from the acquisition.
The agreement covers kinds of business in the global glufosinate-amonium in Bayer; seeds including biotech products; the ability of research and breeding; brand to the plantation in the selected markets; vegetables; platform R & D to hybride wheat; kinds of products in seed nursery; certain herbicide in glifosate – base in Europe which is used in industries; complete digital agricultural platform, xarvio TM; and unselected certain nematicide and herbicide research projects. Now the transaction is complete, unless for the vegetable seed business which would be done in the midst of August 2018. (T2)