×

Syngenta to Sell Remedy Assets in the EEA in Relation to the ChemChina Acquisition

BASEL, Switzerland--(BUSINESS WIRE)-- Syngenta announced today that Adama Agricultural Solutions Ltd ("Adama") and Syngenta AG ("Syngenta") have entered into binding agreement with Nufarm Limited (“Nufarm”) to sell a portfolio of crop protection products for an agreed transaction value of USD 490 million. The combined portfolio of products being divested includes off-patent crop protection formulations in the herbicides, fungicides, insecticides and other categories in the EEA. No physical assets (apart from inventory) or personnel will be transferred as part of the transaction. Syngenta will also sell inventory to Nufarm at closing of the transaction, which is expected to occur in the first quarter of calendar year 2018.

The transaction was carried out in accordance with the commitments given to the European Commission relating to ChemChina’s acquisition of Syngenta, which was completed in May 2017. 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.

Rabobank is acting as exclusive financial advisor to Syngenta in connection with this transaction.

About Syngenta

Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. To learn more visit www.syngenta.com and www.goodgrowthplan.com. Follow us on Twitter® at www.twitter.com/Syngenta.

Cautionary statement regarding forward-looking statements

Some of the statements contained in this press release are forward-looking statements. These statements are based on current expectations, assumptions, estimates and projections, and involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to be materially different from any forward-looking statements. These statements are generally identified by words or phrases such as "believe", "anticipate", "expect", "intend", "plan", "will", "may", "should", "estimate", "predict", "potential", "continue" or the negative of such terms or other similar expressions. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results and the timing of events may differ materially from the results and/or timing discussed in the forward-looking statements, and you should not place undue reliance on these statements. Syngenta disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the period covered by this press release or otherwise.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171023006466/en/

Syngenta International AG
Media contacts:
Leandro Conti
Switzerland +41 61323 2323
or
Paul Minehart
USA +1 202 737 8913
media.relations@syngenta.com
or
Analyst/Investor contacts:
Andrew McConville
Switzerland +41 61 323 0618
USA +1 202 737 6521

Source: Syngenta