Bayer sells more assets, bringing Monsanto deal closer

Bayer AG agreed to sell more crop science businesses to BASF in a deal that fulfils undertakings to the European Union and other regulators as part of its takeover of Monsanto Co. The package, being sold for up to 1.7 billion euros ($2.1 billion), includes its global vegetable seeds business, certain seed treatments and digital farming activities with total sales of 745 million euros in 2017.“With this move, we are implementing the corresponding undertakings made to the European Commission and other regulatory authorities to allow the successful closing of the Monsanto transaction,” Werner Baumann, Chairman of the Board of Management of Bayer AG, said in a statement.