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Bayer to buy Brazilian seed company
Jan. 23, 2015
Bayer confirmed the start of a legal process to buy the seeds unit of CCGL (Gaucha Central Cooperative) , a Brazilian company based in Cruz Alta, Rio Grande do Sul. The unity, called CCGL Tec, focuses on new technology research, trade and development of wheat and soybean varieties.
Bayer officially communicated with the Brazilian anti-trust agency, the Administrative Council of Economic Protection (Cade). The federal authority, under the Ministry of Justice, is responsible for supervising and guaranteeing free competition in the Brazilian market.
The agency needs to authorize the negotiation to allow the companies to finish the deal. In an official statement, the multinational says that "Bayer Crop Science as well as CCGL will await the conclusion of the process to further speak on the issue".
Source: AgroNews
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