Bayer CropScience adds 2% as Cinven to buy environmental biz for $2 billion

NEW DELHI – Bayer CropScience gained 2 per cent in early trade on Friday as the agri-chemical player said its parent firm Bayer AG has signed a definitive agreement with global private equity firm Cinven to sell its Environmental Science Professional business for $2.6 billion.

Bayer’s scrip climbed to a high of Rs 4,533.25 as against Rs 4,440.90 at previous close on the National Stock Exchange.

“This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science Division growth strategy,” Rodrigo Santos, Member of the Board of Management of Bayer AG and President of the Crop Science Division, was quoted as saying in reports.


Environmental Science Professional is a global leader offering environmental solutions to control pests, diseases and weeds in non-agricultural areas such as vector control, professional pest management, and vegetation management, forestry, and turf and ornamentals, reports said.

According to reports, in 2021, the business had approximately 800 employees supporting operations and sales in more than 100 countries. The company, which is headquartered in Cary, North Carolina, USA, had announced its decision to divest the business in February 2021, reports said.

The transaction is expected to close in the second half of this year, subject to the satisfaction of customary closing conditions. Its net proceeds are to be used to reduce Bayer’s net financial debt, reports said.