Monsanto continues to operate business in Vietnam after the acquisition

In the morning of June 8, US-based Monsanto Group, through Dekab Vietnam Limited (a subsidiary of Monsanto USA operating in Vietnam) announced that at present, all of Monsanto's business activities are still intact after the acquisition by Germany’s Bayer Group.

Corn seeds brought into Vietnam by Monsanto for testing (Photo SGGP)

Corn seeds brought into Vietnam by Monsanto for testing (Photo SGGP)

Monsanto is a corporation specializing in producing and selling maize varieties in Vietnam for many years. This group planned to deliver genetically modified corn seeds made by Monsanto into Vietnam but the Vietnamese government has not yet approved so far. Monsanto is one of the chemical companies that had produced Agent Orange for the US troops to use in the Vietnam War, causing many deadly diseases for four millions Vietnamese and many US soldiers exposed to the defoliant.

Bayer is a German corporation which has been present in Vietnam for 24 years mainly in the field of agriculture.

In a letter to the press, the Monsanto Group confirmed that after the deal was completed, Monsanto would merge with Bayer and the Bayer Group expected the deal would be completed within two months.

At present, all of Monsanto's business activities are still intact due to compliance with the conditions set forth by the US Department of Justice when approving the deal, and Monsanto Group will continue to operate independently and separately. with the Bayer Group until the latter completed the sale of some of its business branches to BASF, the letter stated.

In 2016, the two groups Bayer (Germany) and Monsanto (the United States) announced the historic merger in which the Bayer Group would buy the US agricultural giant Monsanto at the price of US$ 66 billion.

This deal was much larger than that of China Chemical Group (ChemChina) acquiring Syngenta Group (Switzerland) for US$ 42 billion in cash. Prior to that, Monsanto had wanted to acquire the Syngenta Group.

Merging between agricultural and chemical corporations has been a trend globally in recent years

by VĂN PHÚC - translated by Tri Dan

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