Isagro closes the sales of fluindapyr to FMC for €55 million

Isagro S.p.A., following the communications of May 6th and July 24th, announces to have finalized the Closing of the sale of the molecule Fluindapyr to the North American company FMC Corporation and to have cashed-in the related Price, equal to 55 Euro million. 

The sale of Fluindapyr is part of the process of redefinition of Isagro’s business model, involving a refocusing in the biosolutions and copper-based products, keeping in portfolio selected organic chemicals based on a rationale of integrated crop management. The 55 Euro million cashed-in from the sale – which, together with the around 50 Euro million cashed-in from the sale of Isagro Asia of last 27th December, led to a consolidated net financial position at credit – will be utilized to finance the growth projects of the Group, also through acquisitions.

 “This transaction” - said Giorgio Basile, President and CEO of Isagro - “confirms the value of our Research, which will be increasingly focused on the Bio-Copper segment, and creates the financial conditions for the growth of Isagro”. 

It shall be remembered that Fluindapyr is a broad-spectrum fungicide belonging to the innovative “SDHi” class, discovered by Isagro and co-developed since 2012 with FMC itself. The book value for Isagro as of June 30th, 2020 was around 25 Euro million.