Bayer CropScience Limited approves sale of Traded Seeds business

The Board of directors of Bayer CropScience Limited at its meeting today has approved the sale of its Traded Seeds business relating to Cotton, Millet, Mustard and Sorghum crops ("Crops") alongwith real estate property owned by the Company at Patancheru, Telangana, to Crystal Crop Protection Limited on a slump sale basis for a total consideration of Rs. 620 Million. The transaction is subject to fulfillment of agreed conditions before the Closing date. Until the closing of the transaction, the Company will continue to act as a distributor for the said Crops.

The Company shall continue to act as distributor for crops which are not part of above referred sale.

The revenue from Traded Seeds Business for above Crops accounts for 1.3% of the Revenue from Operations of the Company for the Financial Year 2020-21.

Shares of Bayer Cropscience Limited was last trading in BSE at Rs. 5195.05 as compared to the previous close of Rs. 5191.55. The total number of shares traded during the day was 1531 in over 443 trades.

The stock hit an intraday high of Rs. 5295.00 and intraday low of 5187.00. The net turnover during the day was Rs. 7966050.00.

Source : Equity Bulls

Keywords

BayerCropscience TradedSeedsBusiness Property INE462A01022 506285 Agrochemicals