Significant Events

On April 26, 2018, BASF and Bayer announced that they have signed an agreement on the acquisition of additional businesses and assets by BASF, which Bayer offered to divest in the context of its planned acquisition of Monsanto. The expanded scope includes Bayer’s entire vegetable seeds business, operating under the global trademark Nunhems^®, as well as seed treatment products sold under the Poncho^®, VOTiVO^®, COPeO^® and ILeVO^® brands. The transaction also includes the R&D platform for hybrid wheat, the digital farming platform xarvio™ and further businesses and research projects.

On October 13, 2017, BASF had signed an agreement on the acquisition of the global glufosinate-ammonium non-selective herbicide business, the seeds businesses for key row crops in select markets and trait research and breeding capabilities for these crops along with the LibertyLink^® trait and trademark.

The transactions, with combined 2017 sales of €2.2 billion and combined 2016 sales of €2.0 billion, complement BASF’s crop protection business and biotechnology activities, adding new capabilities and opportunities for growth and innovation. The all-cash purchase price amounts to a total of €7.6 billion, subject to certain adjustments at closing. In 2016, the combined businesses generated EBITDA of €550 million (on a pro forma adjusted basis). The transactions remain subject to the closing of Bayer’s acquisition of Monsanto, expected in the second quarter of 2018, and approval by the relevant merger control authorities.

On May 3, 2018, BASF and Solenis announced that they have signed an agreement to join forces by combining BASF’s paper wet-end and water chemicals business with Solenis. Solenis is a global producer of specialty chemicals for water intensive industries. The combined business with pro forma sales of around €2.4 billion and around 5,000 employees in 2017 aims to deliver additional value for paper and water treatment customers. The goal is to create a customer-focused global solutions provider for the industry. BASF will hold a 49% share of the combined entity that will operate under the Solenis name and be headquartered in Wilmington, Delaware. 51% of the shares will be held by funds managed by Clayton, Dubilier & Rice. Pending approval by the relevant authorities, closing is anticipated for the end of 2018 at the earliest.