Devgen completes acquisition of seed assets from Monsanto subsidiaries in India and Monsanto Company subscribes to Devgen shares
Devgen announced it has completed the acquisition of certain Monsanto assets in India. Devgen also announced that Monsanto Company subscribed to 1,045,400 Devgen shares at a price of EUR 17.22 per share.
Devgen has finalized the acquisition of Monsanto's hybrid rice, sunflower, sorghum and pearl millet businesses and certain other assets in India, as announced on September 14, 2007. The acquisition of business assets in Pakistan and the Philippines will be completed upon incorporation of local affiliates.
In a separate transaction, Monsanto Company has subscribed to Devgen shares in the amount of 18 million EUR (US$ 25 million), representing 5.9% of the outstanding capital of Devgen. The new shares were issued and paid for on October 31, 2007. Devgen will apply for admission of the new shares on Eurolist by Euronext Brussels.
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