US FTC okays Bayer's sale of insecticide group to BASF

14 February 2003 23:18  [Source: ICIS news]

HOUSTON (CNI)--The US Federal Trade Commission (FTC) said Friday it has approved Bayer's sale of its fipronil insecticide assets to BASF.

In a brief statement, the FTC said that "Through the action taken today, the Commission has approved that divestiture."

The FTC said the commission's vote on the matter was a unanimous 5-0.

In the deal, BASF also acquires a number of fungicides from Bayer and the Aventis CropScience production facility in Elbeuf, France.

The sale of Bayer's fipronil-based products was a condition imposed by the FTC and the European Commission (EC) as a condition for Bayer's acquisition of Aventis CropScience.

By: Joe Kamalick
+1 713 525 2653

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