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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).

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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