Syngenta seeks South African deals
Syngenta has recently confirmed an interest in acquiring South African seed company Pannar Seed (Greytown). But that came before the Competition Appeal Court’s decision to overturn Competition Commission and Tribunal verdicts rejecting DuPont seed subsidiary Pioneer Hi-Bred International’s bid for an 80% controlling stake in the company (see this issue). The authorities had turned down the move as it would have cut competition in the market from three key players, including the two appellants, to two ( Agrow No 638, p 2). Syngenta says it is “actively seeking [South African] acquisitions and partnerships, particularly in the seeds [sector]” as a means to entering the national market. The company believes that Africa offers a key source of growth, and recently committed to a long-term investment plan, which anticipates a $1,000 million seed and pesticide business within ten years ( Agrow No 641, p 3).