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DowDuPont closes the sale of its Brazilian seed corn business
Dec. 4, 2017
DowDuPont
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United StatesThe Dow Chemical Company, a subsidiary of DowDuPont, announced the successful closing of the previously announced divestment of a select portion of its Dow AgroSciences' corn seed business in Brazil to CITIC Agri Fund for a purchase price of $1.1 billion. The sale is part of the required regulatory remedies of the DowDuPont merger transaction, which closed on August 31, 2017.
The divestiture scope includes four corn seed production sites and four research centers, along with a copy of the Dow AgroSciences' Brazilian corn germplasm bank, certain commercial and pipeline hybrids, and the Morgan trademark. CITIC Agri Fund also received a license to the Dow Sementes trademark for 12 months.
The Agriculture Division of DowDuPont will retain Dow AgroSciences' Brazilian corn germplasm bank and the remainder of its corn seed production sites and research centers, commercial and pipeline corn hybrids and other related assets.
With the completion of this divestiture, the Agriculture Division of DowDuPont is moving forward with a comprehensive and balanced portfolio and a robust pipeline of innovative solutions across seed, crop protection, seed-applied technologies and digital agriculture.
The intended independent Agriculture Company will be a global industry leader, with a continued strong presence in Brazil, better positioned to serve growers around the world with a superior portfolio of innovative solutions, greater choice, and competitive price for value.
About DowDuPont
DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow Chemical Company and DuPont with the intent to form strong, independent, publicly traded companies in agriculture, materials science and specialty products sectors that will lead their respective industries through productive, science-based innovation to meet the needs of customers and help solve global challenges. For more information, please visit us at www.dow-dupont.com.
About DowDuPont Agriculture Division
DowDuPont Agriculture, a business division of DowDuPont (NYSE: DWDP), combines the strengths of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences. Together, the Agriculture Division provides growers around the world with the most complete portfolio in the industry, developed through a robust research pipeline across germplasm, biotech traits and crop protection. DowDuPont Agriculture is committed to delivering innovation, helping growers increase productivity and ensuring food security for a growing global population. DowDuPont intends to separate the Agriculture Division into an independent, publicly traded company. More information can be found at www.dow-dupont.com.
Source: DowDuPont press release
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