Syngenta Sells Select Assets to Nufarm
Early this week Syngenta announced that it and Adama Agricultural Solutions Ltd have entered an agreement with Nufarm to sell a portfolio of crop protection products for $490 million.
This agreement is a requirement from the European Commission in relation to ChemChina’s acquisition of Syngenta, completed earlier this year. Nufarm will receive off-patent crop protection formulations of herbicides, fungicides, insecticides and other categories (specific products in each area not provided). No employees will be included in the transaction and the only physical assets included are the inventory of products.
The deal will close in the first quarter of 2018 under the supervision of Duff and Phelps—acting as monitoring trustee to the European commission.