Noerr has assisted Bayer AG with the sale of further crop science businesses worth up to EUR1.7 billion to BASF. Teams from Noerr’s Digital Business and Corporate/M&A practice groups advised the group on the sale of its global digital farming division.
The overall package also includes the worldwide vegetable seed business and certain seed treatment agents. In return for selling its digital farming division, Bayer will receive a grant-back licence for certain digital farming applications. The overall turnover of the divisions in 2017 was EUR745 million.
With this transaction, which also includes the transfer of around 2,500 employees, approximately 150 of whom are in Germany, Bayer is complying with commitments it made to the European Commission and other regulatory authorities in order to allow the takeover of Monsanto to be successfully completed.
The transaction still requires clearance by the regulatory authorities and will only take effect when the Bayer’s takeover of Monsanto has been successfully completed.
