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Sumitomo completed acquisition of Nufarm’s 20% stake
Apr. 16, 2010
Nufarm has confirmed that Japanese company Sumitomo Chemical has acquired 20% stake in the company.
Early last month, Nufarm shareholders approved the acquisition of up to 20% of the company at $A14 a share.
Sumitomo’s strongest business focus was in insecticides and fungicides – small market sectors for Nufarm.
In March, Nufarm indicated it would undertake a $A250 million equity capital raising with a renounceable entitlement offer to all sharesholders, following Sumitomo’s offer.
Source: Nufarm news release
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