Monsanto Closes $160M Sale Of Sunflower Business
NEW YORK (AP) — Seed maker Monsanto Co. said Monday it completed the $160 million sale of its hybrid sunflower assets to Syngenta AG.
Syngenta, a Swiss agribusiness company, agreed to buy the unit on Aug. 6. The sunflower seeds business brought Monsanto $75 million in revenue in fiscal 2008.
In afternoon trading, shares of St. Louis-based Monsanto rose 51 cents to $83.51, and Syngenta stock dipped 66 cents to $47.03.