Sumitomo completed acquisition of Nufarm’s 20% stake

Date:04-16-2010


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.