Bayer will sell its Liberty and Libertylink-branded seeds business to gain antitrust approval for its acquisition of Monsanto. The divestment of the two global brands, a requirement imposed by South Africa’s Competition Commission on Sunday, will account for the bulk of asset sales worth about $2.5 billion which is needed to satisfy competition regulators looking at the $66 billion Monsanto deal. The planned divestitures are also widely expected to be required by competition regulators in larger jurisdictions, such as the United States and the European Union.
Liberty products are recognized as an alternative to Roundup Ready crops. Bayer’s CEO last month said he expects the acquisition to be final by the end of this year.
Source: NAFB News Service