The sale should be completed by the end of this year, Bayer executives said in a statment.
The sale primarily comprises the Baygon insecticide and Autan repellent brands. The two brands hold leading positions in their market segments, company executives said.
Plans for the intended sale were originally announced in March. Bayer representatives commented that the household insecticides business is being sold in order to enable its Consumer Care group to concentrate on its business in non-prescription health care products.