Nufarm buys GBM part of Syngenta

Syngenta announces on Tuesday October 24 that it will sell part of its crop protection product portfolio to the Australian company Nufarm. Drug producer Adama is also involved in this. The deal is worth $490 million. Syngenta was obliged by the European Commission to divest the branch.

Chemical producers Syngenta and Adama have signed an agreement with Nufarm to sell part of their crop protection product portfolio. It concerns PPP formulas that are no longer protected by a patent.

The acquisition covers herbicides, fungicides and insecticides sold in the European Economic Area (EEA). Other than Syngenta's inventory, no physical assets or personnel will be transferred.

ChemChina acquisition requirement
The European Commission has yet to approve the $490 million acquisition. The acquisition is expected to be completed in early 2018. The deal is a prerequisite for Syngenta's own acquisition by ChemChina to go through. In May this year, the European Commission demanded that certain business activities be divested.

Niels van der Boom

Niels van der Boom is a senior market specialist for arable crops at DCA Market Intelligence. He mainly makes analyses and market updates about the potato market. In columns he shares his sharp view on the arable sector and technology.

n.vanderboom@boerenbusiness. Nl

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