FMC Corporation to Divest India Crop Protection Business for $252 Million
FMC Corp to sell India crop protection business to Crystal for $252 mn
Business StandardImage: Business Standard
FMC Corporation is selling its India crop protection business to Crystal Crop Protection Ltd for $252 million as part of a strategy to reduce debt and focus on high-growth markets. The deal is pending regulatory approval and aims to enhance innovation in Indian agriculture.
- 01FMC Corporation is selling its India business to Crystal Crop Protection for $252 million.
- 02The sale is aimed at reducing FMC's debt and reallocating resources to more profitable markets.
- 03Crystal Crop will gain access to FMC's brands and a supply agreement for active ingredients.
- 04FMC plans to maintain a presence in India through R&D and manufacturing.
- 05The deal is subject to regulatory approval and customary closing conditions.
Advertisement
In-Article Ad
FMC Corporation, a US-based agricultural sciences company, announced the sale of its India commercial business to Crystal Crop Protection Ltd for $252 million. This strategic move aims to reduce FMC's debt and refocus its resources on higher-growth markets. The definitive agreement is subject to regulatory approval and customary closing conditions, including adjustments for cash, debt, and working capital. Crystal Crop will acquire FMC India's commercial operations in the crop protection segment, along with a license to use FMC's brands in the country and a preferred supply agreement for certain active ingredients. FMC's chairman, Pierre Brondeau, emphasized that this acquisition positions Crystal Crop to better serve Indian farmers with innovative technologies. Despite the sale, FMC plans to remain active in India through global research and development efforts and manufacturing operations. Financial details beyond the sale price have not been disclosed.
Advertisement
In-Article Ad
This acquisition may lead to enhanced access to innovative agricultural products for Indian farmers, potentially improving crop yields and sustainability.
Advertisement
In-Article Ad
Reader Poll
Do you think this acquisition will benefit Indian farmers?
Connecting to poll...
More about FMC Corporation
Read the original article
Visit the source for the complete story.


