© Reuters. BASF is negotiating the purchase of vegetable seeds Bayer
FRANKFURT/LONDON (Reuters) – The German chemical company BASF (DE:BASFN) is in negotiations with Bayer (DE:BAYGN) for him to redeem his activity of vegetable seed whose value is estimated at around € 1.5 billion, debt included, according to two sources close to the matter.
The sources explained that BASF had an exclusive access to the accounts of this division of Bayer, who is willing to sell it to allay the concerns of the european Commission about the consequences in terms of the extent of its TAKEOVER offer for 63.5 billion ($51.4 billion euros) on the american Monsanto (NYSE:MY), a world leader in seed.
However, the chemical and pharmaceutical group German could even open his accounts to other candidates from BASF, at a later stage, said sources.
BASF and Bayer have not answered in the immediate future to requests for comment.
The division of vegetable seeds Bayer, marketed under the brand name Nunhems, sells more than 1,200 varieties of seeds for 25 species of vegetable crops.
Bayer has proposed to divest the activity in a single block, with the rights of intellectual property and the production sites, a new player in a market that should not be a private equity fund, reported Reuters.
Sources have also told Reuters on Wednesday that Bayer is expected to get the green light subject to conditions of european authorities to the acquisition of Monsanto.
(Arno Schütze and Dasha Afanasieva, Juliette Rouillon for the French service)