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Bayer approves sale of traded seeds business to Crystal Crop Protection
Oct. 15, 2021
Bayer CropScience India
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The Board of directors of Bayer CropScience Limited has approved the sale of its Traded Seeds business relating to Cotton, Millet, Mustard and Sorghum crops ("Crops") alongwith real estate property owned by the Company at Patancheru, Telangana, to Crystal Crop Protection Limited on a slump sale basis for a total consideration of Rs. 620 Million. The transaction is subject to fulfillment of agreed conditions before the Closing date. Until the closing of the transaction, the Company will continue to act as a distributor for the said Crops.
The Company shall continue to act as distributor for crops which are not part of above referred sale.
The revenue from Traded Seeds Business for above Crops accounts for 1.3% of the Revenue from Operations of the Company for the Financial Year 2020-21.
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