Mumbai, Oct. 21: The board of Bayer India, a subsidiary of Bayer AG, would meet on October 29 to consider the sale of its consumer care division. This will lead to its household insecticides business, comprising the successful insecticide brand Baygon and repellent Autan, also being sold.
In a notice issued to the stock exchanges today, the company said, “The board would meet to consider the sale/disposal of the consumer care division on a going concern basis at a consideration to be arrived at based on a valuation to be made by independent chartered accountants.”
In March this year, the company had informed the bourses that to further streamline its portfolio Bayer AG plans to divest its household insecticides business unit, which is part of the consumer care business group comprising mainly Baygon and Autan.
Bayer had then said that in addition to the trademark rights, the production facilities and sales offices would also be sold. The active ingredient business, however, will remain with the group.
However, it was not clear whether the active ingredient business would also be disposed of, as company officials could not be reached for comments.
The moves made by Bayer India in this regard follows its parent’s opinion that in the healthcare business area, the company should concentrate on its core areas, which are research, manufacturing, and globally marketing human and animal healthcare products and diagnostics systems.