Bayer Divestment Of Fipronil To BASF Awaits EU Approval

WASHINGTON, D.C. — The Federal Trade Commission has approved a proposed divestiture in the matter concerning Bayer AG's (Bayer) acquisition of Aventis CropSciences Holding S.A. (ACS), the crop protection business of Aventis S.A. (Aventis).

On Nov. 1, 2002, per the terms of a May 30, 2002 proposed consent order, Bayer petitioned the Commission to approve the divestiture of Bayer's fipronil assets (as that term is defined in the order) to BASF AG. Through the action taken, the Commission has approved that divestiture. The Commission vote to approve the divestiture was 5-0.

Bayer AG’s divestment of fipronil assets to BASF AG still must receive approval by the European Union (EU). This stipulation was made by the U.S. FTC and its counterpart agency for the EU when Bayer purchased Aventis ES.

“Further required approvals of the transaction from European regulatory authorities are anticipated shortly,” a BASF representative told Pest Control Technology magazine, a sister publication to Lawn & Landscape. “Upon these approvals the parties will close the transaction. The acquisition of the fipronil package will allow us to considerably strengthen our insecticide businesses and grow our businesses in attractive markets.”

Until the divestment has received EU regulatory approval, the status of fipronil assets has not changed, Karl Kisner, hold separate manager for Termidor, told PCT.

“It’s still business as usual and no changes are in place,” Kisner says. “The Hold Separate Order is still in place and the Hold Separate organization will continue to manage and oversee Fipronil until the EU approves the divestment and the close of the transaction occurs.”