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Chemicals firm BASF today said its Germany-based parent BASF SE is in exclusive talks to acquire Bayer’s entire vegetable seed business. Bayer intends to divest this business in context of its planned acquisition of Monsanto, it said.
“The definitive agreement has not been concluded, however, with this acquisition, BASF targets to enhance its future seed platform and the market position of its agricultural solutions business,” the company said in a BSE filing. In October last year, BASF SE had signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide business for USD 5.9 billion.
Shares of BASF were trading flat at Rs 1,995.10 on BSE in the afternoon.
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