The crop protection and seeds group, Syngenta, has signed an agreement to divest some of its cereal fungicide businesses in Nordic countries. The divisions previously belonged to Novartis, which spun off its agribusiness to form Syngenta last year.
Israel's Makhteshim Agan Industries will pay Syngenta SFr8.5 million ($5.2 million) for the Corbel, Tilt Top, Tilt, Stereo and Turn brands of fungicide.
The agreement covers Denmark, Sweden and Finland where the combined 2000 turnover for these brands was about SFr14 million.
Makhteshim Agan Industries bought the sales rights to another fungicide, Nimrod, from Syngenta in December.
Syngenta was formed last year by spinning off the agribusiness activities of Novartis and AstraZeneca.
swissinfo with agencies