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Featured Company News - Syngenta Acquires Nidera Seeds Business from China's COFCO International

Research Desk Line-up: CF Industries Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 8, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Syngenta AG (NYSE: SYT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SYT. The Company announced on November 06, 2017, that it has signed an agreement to acquire Nidera Seeds from COFCO International Ltd. The financial and other terms of the transaction were not disclosed by any of the companies. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Agricultural Chemicals industry. Pro-TD has currently selected CF Industries Holdings, Inc. (NYSE: CF) for due-diligence and potential coverage as the Company announced on November 01, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on CF Industries when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SYT; also brushing on CF. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=SYT

http://protraderdaily.com/optin/?symbol=CF

Commenting on the sale of Nidera Seeds to Syngenta, Johnny Chi, CEO of COFCO International, said:

"This agreement is an important step of our strategy to focus on our major businesses. Syngenta is well placed to provide Nidera Seeds a strong platform for further long-term growth, creating best value for its customers, farmers and employees."

The transaction is subject to approval from relevant anti-trust and competition authorities.

About Nidera Seeds

Nidera Seeds is the wholly owned subsidiary of COFCO International and a leading seeds Company. It produces and markets a range of agricultural seeds including corn, sunflower, sorghum, soybeans, and wheat. Its main area of operations is in South America and Europe, with primary focus on Argentina and Brazil. COFCO, a Chinese state-owned Company had slowly increased its stake in Nidera since 2014 and completed the acquisition of the entire Company in February 2017. COFCO had acquired Nidera Seeds with the intention of merging it with business of COFCO Agri. In April 2017, COFCO merged the business of Nidera Seeds and COFCO Agri and launch the merged Company as launch COFCO International.

In the meanwhile, Chinese state-owned Companies were looking to divest non-core and less profitable business as part of wide-ranging reforms to streamline operations. This had led to COFCO looking for partners to divest the Latin American seeds business of Nidera Seeds. COFCO faced a host of problems integrating Nidera Seeds with its Agri business resulting in huge losses. The matter was further complicated when COFCO discovered accounting irregularities to the tune of $150 million in Nidera Seeds' Latin American operations in 2016. In August 2017, news agency Reuters had reported that COFCO was considering the sale of Nidera Seeds' Latin American operations.

About Syngenta AG

Syngenta is a leading agriculture Company helping to improve global food security by enabling millions of farmers to make better use of available resources. Syngenta, a former Swiss agrochemical giant, was acquired by Chinese state-owned ChemChina in June 2017. The Company uses world class science and innovative crop solutions to transform how crops are grown. The Company is also involved in rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. It has a global presence in over 90 countries and is supported by a global team of 28,000 people.

The Agriculture businesses across the globe are witnessing major consolidation. The mega merger and acquisitions completed this year in this sector include Dow Chemical Company/ E.I. du Pont de Nemours & Company (Dow–DuPont) merger in September 2017, ChemChina-Syngenta merger in June 2017 and the Bayer-Monsanto merger which is expected to close in Q1 2018.

Last Close Stock Review

On Tuesday, November 07, 2017, the stock closed the trading session flat at $92.30. A total volume of 14.35 thousand shares have exchanged hands. Syngenta's stock price surged 0.27% in the last one month, 0.21% in the past three months, and 16.19% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 16.76%. The stock is trading at a PE ratio of 40.89 and has a dividend yield of 1.10%. The stock currently has a market cap of $42.71 billion.

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