Syngenta AG (SYT)
22 Nov 2017
BEIJING/PARIS Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions.
* Latest step in shakeup after Nidera, Noble Agri acquisitions
BEIJING, Nov 6 Chinese grains trader COFCO International has agreed to sell the seeds business of Dutch subsidiary Nidera BV to Chinese-owned global crop chemicals firm Syngenta AG, the companies said on Monday.
* ENTERED INTO A BINDING AGREEMENT TO ACQUIRE NIDERA SEEDS WHICH IS CURRENTLY OWNED BY COFCO INTERNATIONAL
* Agrees to acquire European product portfolio from Adama Agricultural Solutions and Syngenta AG for cash consideration of US$490 million
PARIS, Oct 19 Vilmorin expects China to end a ban on growing genetically modified crops after ChemChina's takeover of Syngenta, potentially benefiting Vilmorin due to a maize licensing deal it has with Syngenta.
CHICAGO, Oct 11 Fitch Ratings on Wednesday became the second major ratings agency to put Syngenta AG on notice for a potential downgrade, over uncertainties surrounding the Swiss-based company's genetically modified corn lawsuit liabilities.
WASHINGTON (Reuters Breakingviews) - Chinese officials probably don’t read literary critic Harold Bloom. If they do, they are ignoring his advice to “make what is implicit ... finely explicit.” A dispute over whether the government will stand behind the potential liabilities of Syngenta , a Swiss seed maker acquired by a Chinese state firm earlier this year for about $43 billion, shows the problems that result from habitual murkiness.
(The following statement was released by the rating agency) LONDON, September 28 (Fitch) Syngenta's proposed legal settlement of its corn seed dispute with US farmers will make it harder for the company to achieve deleveraging in line with Fitch Ratings' expectation. Any potential impact on the rating would depend on the details of the payment and on any offsetting action taken by Syngenta or its parent, ChemChina. Syngenta's financial profile is stretched following its acquisition by ChemChina,
CHICAGO Syngenta AG moved closer to putting a troubled biotech corn seed launch behind it with a $1.5 billion settlement with farmers this week, but grain traders who filed two remaining lawsuits may be less ready to compromise, legal experts said.
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