Syngenta has completed the sale of a portfolio of Syngenta AG and Adama Agricultural Solutions Ltd crop protection products to Nufarm Limited to meet the European Commission’s requirements relating to the acquisition of Syngenta by ChemChina.
The transaction, with a value of US$490 million, was initially announced last October and has since been progressing through the required regulatory approvals, according to Syngenta.
“The transaction was carried out by the commitments given to the European Commission relating to ChemChina’s acquisition of Syngenta, which was completed in May 2017,” says a company statement.
The combined portfolio of products divested includes off-patent crop protection formulations in the herbicides, fungicides, insecticides and other categories in the EEA as well as inventory. The portfolio is understood to include established brands with more than 50 crop protection formulations and more than 260 registrations for use in European markets.
The disposal process has been carried out under the supervision of Duff & Phelps in its role as the monitoring trustee to the European Commission, while Rabobank has been acting as the exclusive financial advisor to Syngenta in connection with this transaction.
Source: Food Ingredients First
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