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Nufarm buys US, UK pesticides groups for A$236 mln

Tue Mar 4, 2008 6:09pm EST

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MELBOURNE, March 5 (Reuters) - Australian farm chemicals group Nufarm Ltd (NUF.AX) said it has bought UK pesticides group AH Marks & Co Ltd and agreed to buy privately owned U.S. group Etigra LLC for a total of A$236 million ($219 million), including assumed debt.

Nufarm said it is looking to raise A$200 million by selling new shares to institutional investors to help fund the deal.

The two companies are expected to add A$5 million to Nufarm's profit this year and A$24.7 million in the 2009 financial year.

Nufarm shares last traded at A$16.10 ahead of a trading halt. ($1=A$1.08) (Reporting by Sonali Paul)



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