The world 's largest chemical producer company has completed the € ##500 ( $ 8.7bn ) acquisition of rival company 's global vegetable seed business , operating under the brand Nunhems . The deal gives the chemical giant 24 crops and around 2,600 varieties , as well as a well - established R&D and breeding system that covers over 100 unique breeding programs within 15 crops . Bayer was required to close the seed business in order to obtain regulatory approval for its acquisition of assets .
The world's largest chemical producer BASF has completed the €7.6bn ($8.7bn) acquisition of rival Bayer's global vegetable seed business, operating under the brand Nunhems. The deal gives the chemical giant 24 crops and around 2,600 varieties, as well as a well-established R&D and breeding system that covers over 100 unique breeding programs within 15 crops. Bayer was required to sell the seed business in order to obtain regulatory approval for its takeover of Monsanto.