WASHINGTON, Oct. 25, 2017 – Australian-based Nufarm Limited has agreed to buy the rights to a portfolio of crop protection products from ChemChina subsidiary Adama and Swiss seed company Syngenta. The deal addresses a commitment made to the European Commission as part of its regulatory approval of the Chinese chemicals group’s $43 billion (US) acquisition of the Swiss-based agricultural company, which was completed in May of 2017. Nufarm said it had agreed to buy a portfolio of established brands, with more than 50 crop-protection formulations and 260 registrations in European markets, from the companies for $490 million USD, plus another $50 million USD for inventory. Completion of the transaction is subject to clearance by the relevant European Competition authorities, as well as qualification of Nufarm by the European Commission as a “suitable purchaser,” as stipulated under the commitments. The disposal process has been carried out under the supervision of Duff & Phelps in their role as the monitoring trustee to the European Commission.
Balanced Reporting. Trusted Insights. Friday, March 01, 2024