BASF mandates banks for planned agricultural business listing

BASF has appointed Citi, Deutsche Bank, Goldman Sachs and J.P. Morgan as global coordinators for the planned listing of its Agricultural Solutions business. The German chemicals group said it aims to be ready to launch an initial public offering by mid-2027, although it has not yet decided on the final execution or timing. BASF previously indicated it was targeting the Frankfurt Stock Exchange for the unit, which competes in seeds and pesticides with Bayer, Corteva and China’s Syngenta. The listing is part of a broader restructuring led by CEO Markus Kamieth to overhaul the business and cut costs.