September 11, 2014
Agrichemical company FMC Corp. has announced it is acquiring 100% of Denmark-based Cheminova for 10.5 billion Danish crowns or US$1.8 billion in cash. The purchase price is to be funded through a mixture of debt and cash reserves. The deal will expand FMC’s presence in certain crop segments and expand the company’s access to cereals in particular as well as make available Cheminova’s direct market access in Europe and strong presence in Latin America. Cheminova has a portfolio in excess of 60 active ingredients, over 2,300 registrations, and additional ingredient in development, and FMC expects to step up new product launches as a result. The deal is subject to approval by shareholders of Auriga Industries A/S, the parent company of Cheminova at a shareholder’s meeting to be held in October.
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