Monsanto India to sell unit to Sumitomo Chemical

Monsanto India Ltd has announced that the members of the Company, by way of Postal Ballot, have passed the resolution to sell, transfer, assign or otherwise dispose off the business related to trading and manufacturing of selective wheat herbicide containing the active ingredient known as Sulfosulfuron (Sulfosulfuron - 75% WG) under the trade mark and associate trademark Leader(Leader Business), to Sumitomo Chemical India Pvt Ltd or to such other person as identified by the Board, for a consideration in Indian rupees of approx. Rs 18 Crores and inventory at cost, on such terms and conditions and with effect from such date(s) and in such manner as the Board think fit and proper, subject to provisions and approvals, with requisite majority.

Source : Equity Bulls

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