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Royal Cosun sells interest in seed company Advanta

12 May 2004

Royal Cosun, manufacturer of food ingredients, and co-shareholder AstraZeneca PLC have reached agreement to sell their shares (50 % each) in the Advanta group to Syngenta. The total consideration will comprise € 400 million, plus a final net asset value adjustment.

 

The sale is subject to approval by the proper authorities in the U.S. as well as in E.U. countries. The Cosun Central Works Council has given positive advice for the intended sale.
The closing is expected to take place in the third quarter of this year.