Bayer CropScience board approves Thane land sale

Bayer CropScience yesterday said that the company board had approved the sale of 100 acres of company land in Thane, Maharashtra. The company said in a filing to the Bombay Stock Exchange that the board had approved the proposal for sale of the 100-acre property at Village Balkum in Thane.

The property is currently being used for the manufacture of crop protection products, according to the filing.

The company said however that the proposed sale was subject to the receipt of all approvals required. It has also decided to approach the shareholders for their approval through a postal ballot.

The filing said hat the company had also decided to seek approval from the members by postal ballot to transfer, sell or otherwise dispose of the company's land at Balkum Village.

The company's stock shot up after the approval of the board.