BFFAF - Bayer wins arbitration court ruling against BASF claim on seed businesses

Bayer ( OTCPK:BAYRY ) +3.5% in European trading Friday after the International Court of Arbitration in Paris said the company does not have to pay damages to BASF ( OTCQX:BASFY ) related to the sale of some seed businesses as part of efforts to gain antitrust clearance for its 2018 acquisition of Monsanto.

BASF ( OTCQX:BASFY ) filed arbitration proceedings in 2019 based on allegations that Bayer ( OTCPK:BAYRY ) failed to adequately disclose continuing costs of the seed businesses.

For Bayer ( OTCPK:BAYRY ), €1.7B ($1.75B) plus interest was at stake in the case, Dow Jones reported.

Bayer ( OTCPK:BAYRY ) sold parts of its crop science business to BASF, closing in 2018, for €7.4B to satisfy antitrust authorities as part of its $63B takeover of Monsanto .

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