Bayer is preparing to kick off the sale of pest control unit Bayer Environmental Science this summer with a price tag potentially topping £1.7 billion, according to media reports.
Reuters has today reported that the agrichemicals giant is looking to reduce debt in the wake of its £45.7bn purchase of Monsanto in 2016 and that Bayer is working with Bank of America on the sale.
Bayer Environmental Science last year saw turnover increase by 7.6% to £940 million, while most other units of Bayer’s CropScience division saw sales slump on weak trading in North America.
Since the Monsanto acquisition, Bayer has already sold its £5.1bn animal health business, its stake in £2.9bn chemicals park Currenta, as well as consumer brands such as Dr Scholl’s and Coppertone worth around £426m each.