Syngenta sells herbicide business to Bayer
The Swiss agribusiness, Syngenta, is selling its Mikado brand herbicides business in the European Economic Area (EEA) to Germany's Bayer.
Bayer is to pay $106 million (SFR171 million) for the unit, which produces the sulcotrione herbicide, a key pest poison in maize production.
The sale is not likely to cause any problems with the European anti-trust authorities following the merger, which created Syngenta from Novartis’ agribusiness and Zeneca Agrichemicals.
Mikado had global 1999 sales of $63.4 million, of which the EEA accounted for more than 90 per cent.
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