BASF Completes Acquisition of Business Unit and Assets from Bayer

BASF completed the acquisition of various businesses and assets from Bayer. This acquisition strategically complements BASF's crop protection, biotechnology and digital activities, and enables entry into seeds, non-selective herbicides and nematicide seed treatment areas. Dr. Martin Brudermüller, Chief Executive Officer and President responsible for Technology at BASF SE, commented on the matter: "This strategic move adds excellent value to our strong agricultural solutions portfolio and increases our innovation potential. Overall, it enables us to provide our customers with even more comprehensive and attractive offerings."

"This acquisition is transforming BASF in agriculture."

Saori Dubourg, Member of the Board of Management responsible for the Agricultural Solutions segment at BASF SE, noted that this acquisition strengthens BASF's market position in agricultural solutions and creates new growth opportunities, stating: "We look forward to the journey ahead together and welcome our new colleagues to BASF." In October 2017 and April 2018, BASF signed agreements valued at EUR 7.6 billion in cash for the business units and assets offered for divestiture by Bayer, subject to certain adjustments during the completion of the sale. This acquisition brought approximately 4,500 new employees to BASF. The agreements include Bayer's global glufosinate business, seed technology research and development capabilities, major field crop seed companies in selected markets, vegetable seed company, research and development platform for hybrid wheat, various seed treatment products, some glyphosate-based herbicides for industrial applications in Europe, the xarvio™ digital agriculture platform and comprehensive herbicide and nematicide research projects. These acquisitions were thereby completed, with the exception of the vegetable seed business expected to be finalized in mid-August 2018, and this acquisition will benefit farmers looking to increase crop quality, profitability and yields. Markus Heldt, Head of the BASF Agricultural Solutions Business Unit, commented on the matter: "We will increase competition in the market with much stronger solutions from seed to harvest. With these solutions, our customers will have a real choice today and in the future." Markus Heldt also stated: "After months of preparation for the smooth transfer of business units and assets and the seamless integration of employees, everyone is now excited to begin working together as a new team." To reflect the expanding scope of the agricultural business, BASF renamed its business unit from Crop Protection to Agricultural Solutions. Additionally, the division also established a new global business unit for seeds and seed technologies.