Cargill to sell seed operation
AGRIBUSINESS giant Cargill is to sell its North American seed business to a subsidiary of Dow Chemical, reports the Financial Times.
The deal, for an undisclosed sum, will make Dows agribusiness arm the third-largest US producer of seed corn.
Cargills North American seed operation comprised 11 production facilities and 14 research operations.
Originally Cargill was going to sell the business to Europes AgrEvo for $650 million, but this fell through when Cargill became embroiled in a lawsuit over patenting.
- Cargill warns of impending seed shortage, FWi, 22 February, 1999
- AgrEvo wants to renegotiate Cargill deal, FWi, 12 November, 1998
- AgrEvo buys Cargills US seeds business, FWi, 29 September, 1998
- Financial Times 19/09/2000 page 36