Syngenta switches Africa growth focus
Syngenta is to switch its focus from entering the South African market towards other African countries, magazine BusinessWeek reports. The move follows DuPont seed subsidiary Pioneer Hi-Bred International’s successful bid to acquire the major South African seed company, Pannar Seed (Greytown). The two companies won a competition ruling on appeal allowing the deal for Pioneer to acquire a controlling majority stake in the seed supplier ( Agrow No 641, p 3). Syngenta had been mulling its own acquisition of the company ( Agrow No 641, p 2). The report cites court records from the protracted dispute stating that Pannar had decided against a deal with Syngenta because it saw a lack of compatible technology compared to that of Pioneer. Syngenta chief executive officer Mike Mack told the magazine that the national $450 million market would be split between two large operators, Pioneer and Monsanto.