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BASF and Mitsui to develop new insecticide in Brazil
Sep. 12, 2014
The Brazil antitrust agency Cade has approved the joint development of a new insecticide by BASF Agrochemical Products B.V. and Mitsui Chemicals Agro. The called "act of concentration" between the companies was approved, without restrictions.
According to the proposal operation, Mitsui will grant BASF a license regarding the active ingredient MCI-8007, and the commercialization and development of new formulation intended for crops such as leafy vegetables, perennial crops and cereal grains. The product is expected to get to market within seven years in mid of 2021.
To justify the release, the superintendency noted low participation, with horizontal overlap, and the possibility of vertical integration. According to the superintendency, Mitsui still does not sell insecticides directly in Brazil (only active ingredients). Given this partnership will not result in "concentration or alteration of the current relevant market structure", therefore, Cade said the operation does not present harmful potential to the competition - which led to the approval of the agreement "without restrictions".
Source: AgroNews
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