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Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

Sumitomo Increases its Stake in Nufarm to 21.7%

6:04 AM MDT | May 10, 2011 | Deepti Ramesh

Sumitomo Chemical says it has increased its shareholding in agchem firm Nufarm (Melbourne) from 20% to 21.7%. Sumitomo also plans to acquire up to an additional 1.3% of Nufarm’s issued capital. Sumitomo agreed to acquire a 20% stake in Nufarm in December 2009, and completed the acquisition of the stake in April 2010 via a tender offer, and the two companies also entered into an agreement to cooperate across a number of business areas. Sumitomo plans to purchase the additional shares from the market within the next six months so that Sumitomo’s...

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