Nufarm sells its stake Excel Crop Care to Sumitomo Chemical

摘要

Nufarm (Melbourne, Australia) says that it has sold its 14.69% stake in crop protection company Excel Crop Care (Mumbai), to Sumitomo Chemical, for about A$39.5 million ($30.1 million). Sumitomo, in June, acquired a 44.98% stake in Excel Crop Care from its founders and financial investors for 6.23 billion Indian rupees ($93.7 million). Sumitomo then declared an open market offer for an additional 30% of Excel Crop Care’s shares.