German venture buys Cargill's seed operations

Article Abstract:

Berlin, Germany-based AgrEvo GmbH has agreed to definitive deal for a $650-million buy of Cargill Inc.'s seed operations in North America, which generates sales of $106 million a year. AgrEvo is an upstart crop biotechnology joint venture of Hoechst AG and Schering AG that is in need of a seed business to deliver its genes to farmers. The firm made large spendings in recent year for the development of genetic engineering capabilities and failed to secure other seed properties, while facing a threat of being shut out of US' market. Cargill's breeding operations for sorghum, sunflowers and alfalka will also be acquired by AgrEva sa part of the deal.

Comment:

Agrees to $650-million acquisition of Cargill's seed operations in North America, which generates sales of $106 million a year

United States, Asset sales & divestitures, Acquisitions & mergers, Research and Development in the Physical, Engineering, and Life Sciences, Plant Genetics, Cargill Inc., Article, AgrEvo GmbH

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Brazil's Universo weighs IPO in U.S

Article Abstract:

Universo Online of Brazil is planning to implement an initial public offering (IPO) in the US before the end of 1999. The service claims it is the largest portal and Internet service provider in Brazil.

Strategy & planning, Telegraph & other communications, Internet service providers, Securities, Universo Online

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Brazil court blocks biotech seeds made by Monsanto

Article Abstract:

Monsanto Co. has been blocked from selling genetically modified seed to the soybean farmers of Brazil. The ruling closes for another year what is potentially a big market for crop biotechnology.

Legal issues & crime, Soybean Farming, AGRICULTURAL PRODUCTION--CROPS, Soybeans, Cases, Brief Article, Monsanto Co., MTC, Soybean industry, Seed industry

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