Syngenta’s vegetable seeds business could attract interest from Bayer, BASF and Vilmorin
The global vegetables seeds business of Swiss group Syngenta [NYSE:SYT] could attract the interest of several potential buyers, French daily Les Echos reported. The report referred to analysts who named German groups Bayer [ETR:BAYN] and BASF [BIT:BASF], and France’s Vilmorin [EPA: RIN] as potential bidders.
According to Bernstein analyst Jeremy Redenius, the vegetables seeds business of Syngenta has a gross profit margin of 60% and could be valued at more than USD 2.5bn or four times annual revenues.
Les Echos