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Monsanto Closes $160M Sale Of Sunflower Business

Mon, 08/31/2009 - 12:51pm

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.

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