AgroPages-Nufarm sells its stake in Excel Crop Care-Agricultural news

Nufarm has sold its 14.69% stake in the Indian agrochemicalcompany, Excel Crop Care for some Aus$39.5 million (US$29.8 million).

Nufarm will use the proceeds of the transaction to repay debt. Any profit or loss on the sale transaction will be reported as a material item in the 2017 financial statements. Any profit or loss on disposal, will be minimal given the revaluation of the investment to market at 31 July.

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Nufarm sells its stake in Excel Crop Care

Nufarm Australia Ltd
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Excel Crop Care Limited
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