Deccan Fine Chemicals to buy Bayer CropScience’s Gujarat unit
September 17, 2013
Ahmedabad, 17 September 2013
According to a PTI report, agro-chemical firm Bayer CropScience has signed an agreement with the Hyderabad-based Deccan Fine Chemicals to sell Bayer’s Gujarat-based unit for a little over Rs 127 crore (1 rupee=$0.01 USD). In a filing to the BSE, Bayer CropScience said it has entered into a ‘Business Transfer Agreement’ with Deccan Fine Chemicals to sell its chemical manufacturing facility on a slump-sale basis at Rs 127.18 crore. The company added that its Board gave nod for the proposal to sell whole or in part the chemical manufacturing unit located in Gujarat in a meeting held on July 30.
The sale would be subject to satisfactory fulfillment of conditions and receipt of government approvals, it said. In India, Bayer CropScience operates in three business segments: crop protection, bioscience and environmental science. It offers wide range of products and extensive service backup for modern, sustainable agriculture as well as for non-agricultural applications.
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