Auriga to close the divestment of Cheminova in mid-April 2015

Auriga Industries recently announced that the divestment of Cheminova to FMC is expected to be completed by mid-April 2015.

In september 2014, Auriga Industries entered into a conditional share purchase agreement with FMC Corporation regarding the sale of Cheminova, a wholly owned subsidiary of Auriga.

Brazil’s competition authority, the Council for Economic Defence (CADE), has recently published their approval of Auriga’s divestment of Cheminova. The publication initiates a statutory waiting period of 15 days, calculated from the date of publication, which is to expire before the approval is final and the parties can close the transaction. All other competition clearances from the relevant jurisdictions have been obtained. Completion of the divestment of Cheminova is now expected in mid-April 2015.