Bayer CropScience LP in the U.S. and Bayer CropScience Inc. in Canada today completed the purchase of Crompton Corporation’s (NYSE: CK) 50 percent share of the Gustafson seed treatment business in the United States, Canada and Mexico [NAFTA] for the purchase price of U.S. $124 million in cash.
Bayer CropScience, which already held a 50% share of the U.S. and Canadian Gustafson joint ventures, now gains full ownership of Gustafson’s NAFTA business as a result of the transaction.
The purchase agreement that preceded this closing transaction was signed and announced by Bayer CropScience and Crompton on March 22.