Syngenta Announces Plans to Divest Global Vegetable Seeds Business
Syngenta has announced plans to divest its global vegetables seeds business. The divestiture is part of the company’s plan to “accelerate shareholder value creation through unlocking the considerable inherent worth in its global seeds portfolio.”
“The Board and management are determined to accelerate shareholder value creation and our actions today underpin our commitment to do so,” said Michel Demaré, Chairman. “Our commitment is also shown by the significant capital return program that we announced today.”
The company also announced today its intention to return significant levels of capital to shareholders through a share repurchase program. The initial program of more than $2 billion will commence in the coming weeks. This will be in addition to the progressive dividend policy which the company has followed for several years.
Read more about Syngenta’s divestiture plans.