DOJ approves Syngenta acquisition of Advanta: Syngenta inks technology agreement with DPL
Feedstuffs, August, 2004 by Michael Howie
The U.S. Department of Justice (DOJ) last week approved Syngenta's acquisition of Advanta BV, provided Swiss-based Syngenta divests the worldwide sugar beet seed business of Advanta.
The divestiture of the sugar beet business was part of Syngenta's initial proposal, as Advanta is actually being split between Syngenta and the investment firm Fox Paine.
Syngenta is acquiring Advanta's North American corn and soybean business, which operates under the Garst brand, and Fox Paine is acquiring Advanta's global business outside North America and its non-corn, non-soybean business--such as the sugar beet business--within North America. Fox Paine also will take a 10% stake in the acquired North American corn and soybean business.
The total consideration...
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