Syngenta To Divest Sugar Beet Seeds Business To DLF Seeds; Terms Not Disclosed

(RTTNews) - Swiss agriculture company Syngenta (SYT), which is in deal to be bought by China National Chemical Corp., known as ChemChina, announced Friday that it has entered into an agreement to sell global Sugar Beet seeds business to DLF Seeds. Financial terms of the transaction are not disclosed.

The transaction is subject to customary approval requirements and expected to close by the end of the third quarter of 2017.

DLF Seeds is a seed company dealing in forage and turf seeds, and other crops.

Truels Damsgaard, CEO of DLF Seeds, said, "Sugar Beet seeds is a natural extension of our seeds business and it is an interesting high value crop. We see significant synergies within our technology and plant breeding tools benefiting both the sugar beet business and the forage & turf seed business. We consider the Syngenta Sugar Beet seeds business a good match with the strategic goals and vision for DLF Seeds."