BASF to buy seeds, herbicide businesses from Bayer for $7 billion

© Reuters. FILE PHOTO: A truck drives past a warehouse of German chemical company BASF in Ludwigshafen© Reuters. FILE PHOTO: A truck drives past a warehouse of German chemical company BASF in Ludwigshafen

FRANKFURT (Reuters) – BASF said on Friday it had agreed to buy significant parts of Bayer’s seed and non-selective herbicide businesses for 5.9 billion euros ($7 billion) in cash.

For Bayer (DE:), the sale of its LibertyLink-branded seeds and Liberty herbicide businesses is a key part of asset sales required to satisfy competition authorities looking at its $66 billion deal to buy Monsanto (NYSE:).

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