Fair trade regulator the Competition Commission of India (CCI) has approved the acquisition of US-based biotech major Monsanto by German chemical and pharma major Bayer. However, the approval is subject to compliance of “certain modifications,” reported Reuters.
A source with direct knowledge of the matter said the CCI’s clearance was among the last antitrust hurdles for the deal.
The CCI hasn’t yet made public the conditions imposed, but the source said the watchdog had asked for divestment of Bayer’s agriculture seeds, vegetable seeds, glufosinate-ammonium and the digital agriculture business.
In a statement on Tuesday, May 22, Bayer said the Indian clearance was “another milestone” towards the global acquisition.
Full Content: Reuters
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