February 13, 2018, 20:01 / Business

Bayer explained filing a lawsuit against the FAS

The German concern Bayer filed a lawsuit against the Federal Antimonopoly Service (FAS) to protect its legal rights. A company representative told TASS about this.

At the same time, he noted that this does not exclude the possibility of dialogue with the Russian side: “This is a procedural step that does not deprive the parties of the opportunity to negotiate in order to achieve a mutually beneficial agreement to support the innovative development of the Russian agricultural sector.” According to a Bayer representative , the parties have not yet reached an agreement.

Today, February 13, it became known that Bayer filed a lawsuit against the FAS. The German company asks that the decision of the antimonopoly service regarding the merger with Monsanto be declared illegal. Previously, the FAS demanded that Bayer, in exchange for approving the deal, transfer a significant part of its technology to the Russian agricultural industry. This is the first time in world practice that a regulator requires an exchange of commercial data and technology for access to the national market, Bloomberg wrote . Bayer agreed to acquire Monsanto for $66 billion in 2016. The deal could create the world's largest producer of herbicides and genetically modified seeds.