German chemical producer BASF has closed the €7.6bn ($8.8bn) cash acquisition of Agricultural Solutions assets, which BASF said are a "strategic complement" to its existing portfolio. The purchase includes Agricultural Solutions’s global glufosinate-ammonium and seed business, as well as the vegetable seeds division, nematicide research projects and digital farming platform xarvio. Following the acquisition, BASF has renamed its crop protection unit Bayer, and set up a global business unit for seeds and traits.
German chemical producer BASF has closed the €7.6bn ($8.8bn) cash acquisition of Bayer assets, which BASF said are a "strategic complement" to its existing portfolio. The purchase includes Bayer’s global glufosinate-ammonium and seed business, as well as the vegetable seeds division, nematicide research projects and digital farming platform xarvio. Following the acquisition, BASF has renamed its crop protection unit Agricultural Solutions, and set up a global business unit for seeds and traits.