Bayer to buy Zeneca seed-treatment business
By FWi staff
AGROCHEMICAL company Bayer has signed a conditional agreement to buy Zenecas UK cereal seed-treatment business.
The deal is expected to be completed by the end of June, subject to approval by the Office of Fair Trading.
Under the terms of the agreement, Zeneca will transfer to Bayer its interests in seed-treatment application machinery, and Bayer will be granted development and marketing rights in the UK to Zenecas new seed-treatment product Evict (tefluthrin). In addition, all Zenecas seed-treatment engineers will transfer to Bayer, to become part of its team.
The global seed-treatment business is valued at £450 million, with the UKs share of that put at £22m.