● Live

Customize

You are here

BASF India surges on parent company inking pact to acquire significant parts of Bayer’s seed

  • Oct-13-2017
  • 24 Hrs IST

BASF India is currently trading at Rs. 1711.35, up by 21.20 points or 1.25% from its previous closing of Rs. 1690.15 on the BSE.

The scrip opened at Rs. 1694.25 and has touched a high and low of Rs. 1776.00 and Rs. 1679.45 respectively. So far 6548 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1812.30 on 09-Oct-2017 and a 52 week low of Rs. 988.50 on 21-Nov-2016.

Last one week high and low of the scrip stood at Rs. 1812.30 and Rs. 1674.00 respectively. The current market cap of the company is Rs. 7439.29 crore.

The promoters holding in the company stood at 73.33%, while institutions and non-institutions held 9.74% and 16.92% respectively.

BASF India’s parent company -- BASF SE Germany -- has signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses which are being divested by Bayer in the context of its planned acquisition of Monsanto. The all-cash purchase price by BASF SE is EUR 5.9 billion, subject to certain adjustments at closing. The said transaction is subject to the closing of Bayer’s acquisition of Monsanto and approval by relevant authorities. The transaction is expected to close in the first quarter of 2018.

The assets to be acquired include Bayer’s global glufosinate-ammonium non-selective herbicide business, commercialized under the Liberty, Basta and Finale brands, as well as its seed businesses for key row crops in select markets: canola hybrids in North America under the InVigor brand using the LibertyLink trait technology, oilseed rape mainly in European markets, cotton in the America and Europe as well as soybean in the America. The transaction also includes Bayer’s trait research and breeding capabilities for these crops and the LibertyLink trait and trademark.

For the full year 2016, the sales of the seed & non-selective herbicide businesses to be purchased from Bayer amounted to around EUR 1.3 billion and EBITDA to around EUR 385 million.

The acquisition complements BASF’s crop protection business, strengthens its herbicide portfolio and marks its entry into the seed business with proprietary assets in key agricultural markets.