AstraZeneca to drop agrochemicals
ASTRAZENECA is making plans to dispose of its £3 billion agrochemicals division after deciding the operation is not part of its core business.
The business is divided into herbicides, insecticides and fungicides and had sales of £1.7bn in 1998 – about 9% of the global market.
AstraZeneca is working with investment banks to advise on the disposal.
The agrochemicals arm could be sold as a single unit or in parts to one of several trade or financial bidders.
There is also the possibility of it being floated or folded into a joint venture.
- AstraZeneca criticised over GMs, FWi, 21 May, 1999
- Financial Times 27/05/99 page 21
- The Daily Telegraph 27/05/99 page 37 (City Diary)