Business & Leadership

Jara del Favero Advises Monsanto on $63bn Acquisition by Bayer

Jara del Favero advised Monsanto during their acquisition by Bayer Aktiengesellschaft (Bayer AG), the German chemicals conglomerate.

Jara del Favero advised Monsanto during their acquisition by Bayer Aktiengesellschaft (Bayer AG), the German chemicals conglomerate.


The firm served as counsel to Monsanto Company, the largest maker of genetically modified seeds in the US, in the new concentration operations procedure, obtaining the approval of the National Economic Prosecutor’s office (FNE), subject to compliance with certain mitigation measures offered by the parties. Among the measures offered, the FNE approved BASF SE as purchaser of packages of assets in the vegetable seeds field, considering it an independent buyer, with the financial resources, experience and incentives to maintain and develop the acquired businesses; as well as not representing any risk to the competition.

 

The transaction started under the old merger regime and was approved under the new regulatory framework for concentration operations that entered into force on June 1st, 2017, regarding the modifications introduced to DL 211 by Law N ° 20.945 of 2016.

 

As a result of a conglomerate risk identified by the office of the prosecutor in the field of herbicides, the parties offered the Attorney General specific behavioral measures to address the competitive situation in the country. These consist of restrictions in the preparation and negotiation of incentive and discount programs that Bayer Chile has with its agrochemical distributors for a certain period of time.

 

The regulatory law team of Jara del Favero, led by partner Manuel Jiménez and lawyers Juan Pablo González, Manuel Bernet and Jorge Tisné, acted as counsel to Monsanto in Chile and Arnold & Porter acted as legal counsel globally.

 

C.G.L.

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