Dow AgroSciences LLC has signed a binding agreement to purchase Coodetec's seeds business in Brazil. The transaction is subject to certain closing conditions, including the approval by Brazilian Antitrust Authority (CADE). The completion of the transaction is estimated to occur during the fourth quarter of 2014.
Brazil is one of Dow AgroSciences' priority markets and the seeds business is of increasing importance for the company in the country. With the signing of the agreement, Dow AgroSciences confirms the company's overall strategy in Brazil to advance the development of its soybean program, strengthen the company’s position in the corn market and enter the market for wheat seeds.