LEVERKUSEN (dpa-AFX) - German conglomerate Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) said that Russian antitrust authorities approved its proposed $57 billion acquisition of Monsanto Co. (MON) on the condition that the German company transfers certain technologies to Russian recipients.
As per the terms of the approval, Bayer agreed to transfer selected molecular breeding assets in several crops for a period of five years. It didn't specify who the Russian recipients will be.
Bayer said it has agreed to grant non-discriminatory access to digital-farming technologies after the products have been launched in Russia.
Bayer received conditional approval from the European Commission in March and is still waiting for a ruling from the U.S. Department of Justice.
Copyright RTT News/dpa-AFX