Updated May 14: Syngenta Crop Protection and Valagro Withdraw From Potential SICIT Group Transaction
Basel, Switzerland and Atessa, Italy (May 12, 2021) – Following the Press Release published May 10 by Intesa Holding S.p.A., Syngenta Crop Protection AG (“Syngenta“) together with Valagro S.p.A. (“Valagro“) would like to confirm that they both remain interested in pursuing a potential transaction involving SICIT Group S.p.A. (“SICIT Group”).
In this respect, and consistently with the Letter of Interest delivered to SICIT Group, May 10 Syngenta and Valagro received access to certain limited confirmatory due diligence information and are in the process of reviewing expeditiously this information in order to decide in a short timeframe whether or not going forward with the proposed voluntary tender offer on SICIT Group pursuant to Article 102 and 106, fourth paragraph, of the Italian Financial Act.
We remain convinced of the potential of a combination between Syngenta/Valagro and SICIT Group. We would prefer to keep Intesa Holding as long-term shareholder of SICIT Group and remain open to dialogue.
Syngenta is one of the world’s leading agriculture companies, comprised of Syngenta Crop Protection and Syngenta Seeds. Our ambition is to help safely feed the world while taking care of the planet. We aim to improve the sustainability, quality and safety of agriculture with world class science and innovative crop solutions. Our technologies enable millions of farmers around the world to make better use of limited agricultural resources. Syngenta Crop Protection and Syngenta Seeds are part of Syngenta Group. In more than 100 countries we are working to transform how crops are grown. Through partnerships, collaboration and The Good Growth Plan we are committed to accelerating innovation for farmers and nature, striving for regenerative agriculture, helping people stay safe and healthy and partnering for impact.
To learn more visit www.syngenta.com and www.goodgrowthplan.com.
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Valagro is a leader in the development, production and marketing of biostimulant and advanced nutrient solutions for cash and row crops. Founded in 1980 and with its headquarters in Atessa (Italy), Valagro is committed to providing innovative and effective solutions for plant nutrition and health. Its mission is to increase the quantity and quality of plants and harvested crops while enhancing productivity and reducing the environmental impact of cultivation. Valagro uses science in the service of humankind to improve nutrition and the quality of life while respecting the environment. Valagro became part of Syngenta Crop Protection in 2020.