“Bayer provided adequate information on the cost structure of the seed businesses acquired by BASF in August 2018 and did not breach any contractual obligations. This has now also been confirmed by the arbitral tribunal,” Bayer said.
In 2019, BASF sued Bayer in arbitration, claiming Bayer failed to fully disclose personnel costs when negotiating the sale of two sets of assets.
In order to obtain possible antitrust clearance for the 2018 Monsanto takeover, Bayer agreed in 2017 to sell certain seed and herbicide assets for 5.9 billion euros ($6.02 billion) to BASF, followed by the sale of its global vegetable seed business, certain seed treatments and digital agriculture business for up to €1.7 billion.