The deal includes Bayer’s global glufosinate-ammonium non-selective herbicide business, commercialized under the Liberty, Basta and Finale brands, and also includes Bayer’s trait research and breeding capabilities for oilseed rape, cotton and soybean, and the LibertyLink trait and trademark.
Bayer said it was selling these parts of its business "in the context of its planned acquisition of Monsanto". The transaction is subject to the closing of this earlier deal and its approval by relevant authorities, expected in the first quarter of 2018.
Chairman of BASF's board of executive directors Dr Kurt Bock SE said the move "will be a strategic complement to BASF’s well-established and successful crop protection business as well as to our own activities in biotechnology".
More than 1,800 commercial, R&D, breeding and production staff, based mainly in the United States, Germany, Brazil, Canada and Belgium, will transfer from Bayer to BASF.
BASF will also acquire the manufacturing sites for glufosinate-ammonium production and formulation in Germany, the United States, and Canada, seed breeding facilities in the Americas and Europe as well as trait research facilities in the United States and Europe.