Novartis sells FLINT range to Germany's Bayer

Novartis Agribusiness is selling its FLINT fungicide business to Bayer's crop protection subsidiary, for SFr1.33 billion ($760 million).

This content was published on October 17, 2000 minutes

The sale to the German group includes production facilities in Muttenz, Switzerland, as well as all associated intellectual property rights, product trademarks, registrations and know-how.

The sale was ordered by regulators in order to gain approval for the merger of Novartis Agribusiness with Zeneca Agrochemicals. The two companies will form a new crop protection group, Syngenta.

The value of product inventories is not included in the price Bayer is paying for FLINT.

Novartis touted the sale as a good deal for all parties involved. "In finding a responsible buyer and excellent partner for our successful FLINT products, Novartis Agribusiness has managed to maintain jobs in Switzerland while fulfilling a condition of the merger," said Heinz Imhof, head of Novartis Agribusiness.

Bayer has made a commitment to continue to employ all of the employees at the Muttenz site in Switzerland.

FLINT is a second-generation strobilurin fungicide with a broad spectrum of applications.

swissinfo with agencies

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