12 November 1998
AgrEvo wants to renegotiate Cargill deal
AGREVO, the German agrochemicals group, wants to renegotiate its $650 million (£392m) purchase of Cargills North American seed business following a complaint about patent violation by the US firm.
Pioneer Hi-Bred, the US corn seed company, has made an allegation that Cargill used its genetic material.
Klaus Pohle, head of the AgrEvo supervisory board, said Cargill would have to accept a lower price. He also hinted that the deal could collapse.
- AgrEvo buys Cargills US seeds business, FWi, 29 September, 1998
- Financial Times 12/11/98 page 40 (News Digest)