Bayer CropScience okays sale of traded seeds biz to Crystal Crop Protection

Bayer CropScience okays sale of traded seeds biz to Crystal Crop Protection


Ltd on Wednesday approved sale of its traded business, along with property in Telangana, to Protection Ltd for Rs 62 crore.

In a regulatory filing, the company said its board of directors has approved the sale of its traded business related to cotton, millet, mustard and sorghum crops along with real estate property owned by the company at Patancheru, Telangana, to Protection on a slump sale basis for a total consideration of Rs 62 crore.

The transaction is subject to the fulfillment of agreed conditions before the closing date.

Until the closing of the transaction, the company said it will continue to act as a distributor for these crops.

The company will continue to act as distributor for crops which are not part of these sales.

“It is further informed that the revenue from traded business for above crops accounts for 1.3 per cent of the revenue from operations of the company for the Financial Year 2020-21,” the filing said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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