Dow Chemical sells part of your seed business in Brazil

NEW YORK-the American Group Dow Chemical announced on Tuesday, 11, the sale of part of your business of corn seed production in Brazil to Chinese conglomerate Citic, for $ $1.1 billion. The transaction occurred to meet requirements of the Brazilian authorities. "The transfer aims to adjust the Dow''s commitments to the requirements of the Administrative Council for economic Defense (Cade) involving your planned fusion with Dupont," said the American group. European Union, United States and China gave the green light to the merger of the two groups agrochemicals, paving the way for an operation that will create a giant $ $150 billion. The sale to Citic will total $ $287,000,000 in assets, involving seed production units, research centers, a Bank of genetic material of corn, mark Morgan and a temporary license for the use of the Mark Dow seeds. The buyer is the Citic Agri Fund, investment arm specialising in agricultural industry which is part of the Chinese conglomerate, with businesses ranging from financial services to real estate. Dow Chemical reaffirmed on Tuesday your intention to complete the merger with Dupont in August. The new group-DowDupont-will be the second largest on the planet in the production of seeds and the number three in plant protection products. The maneuver will allow a saving of $ $3 billion, according to Dow Chemical. Over the next 18 months, the DowDuPont will be listed on the market as three independent companies: one focused on agriculture, one for materials research and the last dedicated to fine chemicals.