BASF Completes Acquisition of Business Unit and Assets from Bayer

BASF has completed the acquisition of various companies and assets from Bayer. This acquisition strategically complements BASF's crop protection, biotechnology and digital activities, enabling entry into seeds, non-selective herbicides, and nematicide seed treatment segments. BASF SE CEO and President responsible for Technology Dr. Martin Brudermüller commented on the matter: "This strategic move adds excellent value to our strong agricultural solutions portfolio and increases our innovation potential. Overall, it enables us to provide our customers with even more comprehensive and compelling offerings."

"This Acquisition is Transforming BASF in Agriculture"

Saori Dubourg, Board Member of BASF SE responsible for the Agricultural Solutions segment, noted that the acquisition strengthens BASF's market position in agricultural solutions and creates new growth opportunities, stating: "We look forward to the journey we will undertake together and welcome our new colleagues to BASF." BASF signed agreements valued at EUR 7.6 billion in cash in October 2017 and April 2018 for the business units and assets that Bayer offered to divest, subject to certain adjustments upon completion of the sale. Approximately 4,500 new personnel joined BASF with this acquisition. The agreements include Bayer's global glufosinate business, seed technology research and development capabilities, major field crop seed companies in selected markets, vegetable seed company, hybrid wheat R&D platform, various seed treatment products, certain glyphosate-based herbicides for industrial applications in Europe, digital farming platform xarvio™, and total herbicide and nematicide research projects. With the exception of the vegetable seed business, which was expected to be completed in mid-August 2018, these acquisitions have thus been completed, and this purchase will benefit farmers seeking to increase crop quality, profitability and yields. Markus Heldt, Head of BASF Agricultural Solutions Business Unit, commented on the matter: "With much stronger solutions from seed to harvest, we will increase competition in the market. With these solutions, our customers will have a real choice today and in the future." To reflect the expanding scope of its agricultural business, BASF renamed its Crop Protection business unit to Agricultural Solutions. Additionally, the division established a new global business unit for seeds and seed technologies.