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Sumitomo acquires Takeda's pesticides business. (Business & Finance News).(Brief Article)

Chemical Week, August, 2002 by Young, Ian

Sumitomo Chemical has agreed to acquire a majority stake in Takeda Chemical Industries' pesticides operation, and says it will later assume full ownership of the business. Analysts estimate the total purchase price at [yen]30 billion-[yen]50 billion ($259 million-$431 million). The deal is subject to antitrust approval.

Takeda will transfer its agchem operations to a new company, Sumika Takeda Agrochemical (Tokyo), in which Sumitomo will have a 60% stake, effective November 1. Sumitomo says it will acquire Takeda's stake in Sumika Takeda in 2007 and that it may merge its pesticides business with Sumika Takeda at that time. "During the intervening period, Sumika Takeda and Sumitomo will expand their respective agchem operations under business agreements between...

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