Russia’s Federal Antimonopoly Service (FAS) has granted an approval for the merger of German chemical company Bayer and US producer of genetically modified seeds and herbicides Monsanto Company, Igor Artemyev, head of the FAS, said.
Russia was one of the few jurisdictions to be won over after the European Commission last month gave conditional clearance and after a source said Bayer struck an agreement in principle with the US Department of Justice.
“Bayer has agreed to enable the transfer of defined technologies to Russian recipients in the area of seeds breeding and digital farming for a period of five years,” the company said in a statement.
As part of these concessions, Bayer will share some genetic know-how on corn, wheat, oil seed rape, soybean and vegetable seeds. It would also grant “non-discriminatory” access to digital farming technologies once they were available in Russia, Bayer said.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
