Shandong Luba Chemical Co.,Ltd
Beijing Multigrass Formulation Co., Ltd.

Indian regulator clears Bayer's deal for Monsantoqrcode

May. 23, 2018

Favorites Print May. 23, 2018
India’s antitrust regulator has approved the acquisition of Monsantoby Bayer AG, in a decision that moves the $62.5 billion deal a step closer to the finish line, according to Reuters’ report.
 
Bayer is preparing to close the takeover this quarter, giving it control of more than 25 percent of the world’s seed and pesticides market.
 
Both Bayer and Monsanto had subsidiaries in India, making it mandatory for them to receive clearance from the Competition Commission of India (CCI).
 
The acquisition had been approved “subject to compliance of certain modifications,” the CCI said on Twitter, without elaborating.
 
A source with direct knowledge of the matter said CCI’s clearance was among the last antitrust hurdles for the deal.
 
The CCI hasn’t yet made public the conditions imposed, but the source said the watchdog had asked for divestment of Bayer’s agriculture seeds, vegetable seeds, glufosinate-ammonium and the digital agriculture business.
 
In a statement on Tuesday, Bayer said the Indian clearance was “another milestone” towards the global acquisition.
 
The takeover, one of a trio of major deals in the agribusiness sector in recent years, would create a company with a share of more than a quarter of the world’s seed and pesticides market.
 
Bayer last week said Russia’s antitrust regulator FAS had approved the company’s Monsanto takeover.
 
Favorites Print
Source: Reuters

Guest

United States

Picture 0/1200

More from AgroNews

Magazine

  • 2018 Market Insight 2018 CRO & CRAO Manual
  • 2018 India Pesticide Suppliers Guide 2018 Latin America Focus
  • 2018 Seed Special 2018 Biologicals Special

Comment  

Picture 0/1200

Subscribe to daily email alerts of AgroNews.