Pioneer loses appeal to unblock Pannar deal
DuPont seed subsidiary Pioneer Hi-Bred’s has failed in its appeal to overturn the South African Competition Commission’s rejection of its bid to acquire South African seed company Pannar Seed (Greytown). The companies say they will be studying the detail of the decision before deciding on any action. They were to establish a regional hub for Africa, while Pioneer’s investment would increase R&D in maize seed, employing Pioneer technologies such as laser-assisted and marker-assisted seed selection. The Competition Commission blocked the proposed acquisition of Pannar over competition concerns for the hybrid maize market in the country late last year ( Agrow No 606, p 23). The South African Competition Tribunal subsequently agreed to a public hearing on Pioneer’s appeal. Five of the six other national authorities required to authorise the deal in Africa did so ( Agrow No 611, p 3).