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BASF ready to snatch seed bargains as rivals sell off assets
June 29, 2017 / 10:50 AM / 5 months ago

BASF ready to snatch seed bargains as rivals sell off assets

LUDWIGSHAFEN, Germany, June 29 (Reuters) - BASF will consider buying seed assets that rivals are putting on the block to win antitrust approval for tie-ups, saying bargain prices could persuade BASF to overcome its traditional reluctance to expand into the seeds industry.

“There are assets that will come to market for antitrust reasons and they might come at prices that are different from those that we have seen in the past. That’s why we will look into it and see whether it makes sense for us,” deputy Chief Executive Martin Brudermueller told journalists at a news conference at the group’s headquarters.

“Seed assets are an option, not a must,” he added.

Rival Bayer last month said it will sell its LibertyLink-branded seeds businesses, a key part of asset sales required to satisfy competition authorities looking at its $66 billion Monsanto deal. (Reporting by Ludwig Burger and Patricia Weiss; Editing by Maria Sheahan)

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