Bayer closes Monsanto integration in India
- Integration brings together two highly complementary businesses, creating an innovation engine for Indian agriculture
- Indian farmers will benefit from a strong portfolio of innovation-led agricultural solutions and digital farming applications
Mumbai, September 16, 2019: On September 13, 2019, the National Company Law Tribunal approved the merger of Monsanto India Limited into Bayer CropScience Limited. Post the merger, Monsanto products will retain their brand names and become a part of Bayer’s product portfolio.
This integration brings together two highly complementary businesses, creating an innovation engine for Indian agriculture. Farmers in India will benefit from Bayer’s innovative crop protection products and Monsanto’s expertise in seeds & traits and digital farming applications.
Speaking about this strategic milestone for Bayer’s business in India, D. Narain, Managing Director & CEO, Bayer CropScience Limited, said, “Today is a great day for us! Bayer has been operating in India for more than 120 years and understands the needs and aspirations of Indian farmers. With the integration of Monsanto into Bayer in India, we will be able to provide Indian farmers a strong portfolio of innovation-led agricultural solutions. Our long-term goal is to unlock the growth potential of Indian agriculture as a global producer & exporter of food, feed and fibre.”
The combination will bring together a vast talent pool of experienced employees from both organizations who will work closely with farmers to enhance crop yields, increase farm incomes and drive sustainable agriculture. Besides business operations, Bayer will also strengthen its corporate societal engagement in India further. “We are committed to deepen our dialogue with society and key stakeholders and contribute to the future of Indian agriculture while benefitting farmers, consumers and the environment,” added D Narain.
Upon the merger becoming effective, the shareholders of Monsanto India Limited will get 2 (two) equity shares of Rs.10/- each of Bayer CropScience Limited, for every 3 (three) equity shares held by them in Monsanto India Limited.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.
Communications, Bayer Group in India
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