Beijing, China and Tel Aviv, Israel
March 16, 2018
Global crop protection company ADAMA today reported that the transfer of certain crop protection products and distribution rights from Syngenta AG (“Syngenta”) to ADAMA, as announced on 24th October 2017, is underway. At the same time, the divestiture of certain crop protection products from ADAMA to Nufarm Europe GmbH (“Nufarm”) has been completed following receipt of regulatory approvals from the European Commission (“EC”). As previously reported, and as required by the EC for their approval of the acquisition of Syngenta by ChemChina, Syngenta and ADAMA have each divested certain products.
ADAMA is receiving from Syngenta a portfolio of crop protection products, including product registrations, related trademarks, brands for multiple formulated crop protection products and active ingredients in the EEA, as well as co-distribution rights to certain Syngenta products in Europe.
In exchange for these products and rights received from Syngenta, ADAMA divested, alongside Syngenta, certain crop protection products in the EEA to Nufarm, while maintaining its ability to continue to sell such products in other countries outside Europe, and in some cases within Europe as well.
The portfolio transferred from Syngenta to ADAMA is of similar nature and economic value to the one divested to Nufarm, and therefore the net impact on the Company of the transactions is expected to be immaterial. No physical assets (apart from inventory) or personnel are being transferred as part of either transaction.
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