Further consolidation in the agrochemicals industry: FMC, DuPont to sign agreement

A complex agreement was signed between multinationals DuPont and FMC. As part of the agreement, DuPont will sell to FMC its Crop Protection business, while it will acquire FMC’s Health and Nutrition business and, additionally, will receive $1.2 billion in cash. FMC expects the acquired business to generate approximately $1.5bn in revenue and $475 million of EBITDA in 2017. Following the deal, FMC will become the fifth largest agrochemical company in the world, with estimated annual revenue of $3.8bn (2018). DuPont has decided to sell its Crop Protection business because of the pressure put by European Union’s competition watchdog in order to facilitate the approval of its merger with Dow Chemical.
(Source: FMC)