[fullwidth background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”” padding_top=”20″ padding_bottom=”20″ padding_left=”0″ padding_right=”0″ hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][title size=”1″ content_align=”left” style_type=”underline solid” sep_color=”#000000″ margin_top=”” margin_bottom=”” class=”” id=””]Syngenta plans to divest its global vegetable seeds business and buy back $2 billion in shares[/title][fusion_text]Wednesday, September 3rd 2015
Syngenta today said it plans to divest its global vegetable seeds business and buy back $2 billion in shares as part of a plan to “accelerate shareholder value creations.” The announcement comes a week after the Swiss agribusiness and chemical giant rejected a $46 billion takeover by Monsanto, the world’s biggest seedmaker, angering some shareholders and sparking an 18 percent decline in its share price last week. Syngenta said its “industry-leading, high margin seed business has a significant global footprint and a wide array of best-in-class varieties” and is expected to attract significant third-party interest. Last year the business had $663 million in sales. The company also announced today its intention to return capital to shareholders through a share repurchase program. The initial program of more than $2 billion will start in coming weeks.
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