Bayer CropScience, the crop protection and agri-products arm of German company BayerAG, is in preliminary talks with Kaveri Seed Company to acquire minority stake of less than 26% in the company.
The proposed deal may value Kaveri Seeds between Rs 1,422 crore and Rs 2,133 crore or close to two to three times its annual net sales. The company achieved a 49% compounded annual growth rate (CAGR) in net sales for last five years to Rs 710.8 crore in FY13, while the net profit grew at 56% to Rs 128.4 crore for FY13.
