Syngenta to Divest Sugar Beet Seeds Business to DLF Seeds
June 09 2017 - 1:00AM
Business Wire
Syngenta and DLF Seeds announced today that they have entered
into a sale agreement in relation to the acquisition of Syngenta’s
global Sugar Beet seeds business by DLF Seeds. The transaction is
subject to customary approval requirements (including local
employee consultation procedures) and expected to close by the end
of the third quarter of 2017. Financial terms of the transaction
are not disclosed.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170608006435/en/
Jeff Rowe, President Global Seeds and North America for
Syngenta, said: “This agreement with DLF Seeds, a strong and
expanding global player, will leverage the leading germplasm and
growth potential of Syngenta’s Sugar Beet seeds worldwide. DLF
Seeds has a strong record in specialized seeds and in the
integration of strategic acquisitions and offers excellent
prospects for the Sugar Beet seeds business, enabling it to build
on its expertise in serving industrial sugar producers.”
Truels Damsgaard, CEO of DLF Seeds, commented: “Sugar Beet seeds
is a natural extension of our seeds business and it is an
interesting high value crop. We see significant synergies within
our technology and plant breeding tools benefiting both the sugar
beet business and the forage & turf seed business. We consider
the Syngenta Sugar Beet seeds business a good match with the
strategic goals and vision for DLF Seeds.”
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.
About DLF Seeds
DLF Seeds is a global seed company dealing in forage and
turf seeds, and other crops. The company is a leading player
providing grass and clover seeds to more than 80 countries. With
headquarters in Roskilde, Denmark, and a strong focus on science
and plant breeding, approximately 10% of the company’s 800
employees are dedicated to research. The company is owned by a
cooperative of Danish farmers. To learn more visit www.dlf.com
Cautionary Statement Regarding Forward-Looking
Statements
This document contains forward-looking statements, which can be
identified by terminology such as ‘expect’, ‘would’, ‘will’,
‘potential’, ‘plans’, ‘prospects’, ‘estimated’, ‘aiming’, ‘on
track’ and similar expressions. Such statements may be subject to
risks and uncertainties that could cause the actual results to
differ materially from these statements. We refer you to Syngenta's
publicly available filings with the U.S. Securities and Exchange
Commission for information about these and other risks and
uncertainties. Syngenta assumes no obligation to update
forward-looking statements to reflect actual results, changed
assumptions or other factors. This document does not constitute, or
form part of, any offer or invitation to sell or issue, or any
solicitation of any offer, to purchase or subscribe for any
ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form
the basis of, or be relied on in connection with, any contract
there for.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170608006435/en/
Syngenta International AGMedia OfficeTelephone: +41 61
323 23 23Fax: +41 61 323 24 24www.syngenta.comorSyngenta Media
contact:Leandro Conti, +41 61 323
2323Switzerlandmedia.relations@syngenta.comorPaul Minehart, +1 202
737 8913USAorSyngenta Analyst/Investor contact:Jennifer
GoughSwitzerland, +41 61 323 5059USA, +1 202 737 6521orDLF
Seeds:Ny Oestergade 94000 RolskildeDenmarkTel: +45 46 330
300orDLF Seeds Media contact:Stig Oddershede, +45 40 30
3248Denmarkso@dlf.dk
Syngenta (NYSE:SYT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Syngenta (NYSE:SYT)
Historical Stock Chart
From Sep 2023 to Sep 2024