Bayer has agreed to sell its Liberty herbicide and LibertyLink-branded seeds businesses to win antitrust approval for its acquisition of Monsanto, it said on Monday.

 

The divestment of the two global brands, a requirement imposed by South Africa's Competition Commission on Sunday, will account for the bulk of asset sales worth about $2.5 billion which need to be made to satisfy competition regulators looking at the $66 million Monsanto deal, sources close to the matter have said.

 

"Bayer has agreed to these conditions and is evaluating how best to execute the imposed divestiture," the German group said in its statement.

 

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