Syngenta closes acquisition of Monsanto’s sunflower seeds activities

Syngenta announced that it has closed the acquisition of Monsanto’s global hybrid sunflower seeds activities. This follows merger filing procedures with the European Commission and Syngenta’s commitment to divest certain physical assets, intellectual property rights and contracts. Details of the remedies proposal will not be disclosed.

Syngenta announced on 6 August, 2009, the signing of an agreement to acquire from Monsanto its global hybrid sunflower seeds activities for a consideration of $160 million, on a cash and debt-free basis. The asset deal includes germplasm and related IP rights, all sunflower breeding activities, certain activities in field production as well as the global distribution rights for all Monsanto sunflower hybrids. The acquisition further strengthens Syngenta’s leading sunflower business.