Auriga confirms investigation to sell
Auriga Industries A/S in June announced it initiated a review of strategic business options. As of this month Auriga confirmed that a process is proceeding to investigate a “sale transaction,” which multiple sources have identified as the potential sale of Cheminova.
Auriga Industries A/S is the parent company of Cheminova A/S, which is the wholly owned operating company with its headquarters in Denmark. Cheminova develops, produces and markets crop protection products.
Discussions with several parties regarding a potential transaction are currently underway, and Auriga has engaged advisors to assist in the process, the company confirmed. But Auriga in its formal announcement reports there can be no certainty about the outcome of the discussions, the type of transaction or whether a transaction will occur at all.
Auriga is definitely playing it close to the vest and says it will make further announcements if and when it is deemed necessary or appropriate.
Private equity firms Bain, CVC and EQT and Israel-based Adama Agricultural Solutions are expected to submit second round bids in an auction process at the end of August for the unit, banking sources told Reuters earlier.
- Phomopsis stem canker in sunflowers
- Conference to help companies take next steps in eBusiness
- Energy for growing crops is large part of farm operating costs
- Moves in livestock futures bracketed those of the crop markets
- 3D Robotics launches new 3DR mapping platforms
- Report finds ag employers can’t fill STEM jobs
- How much corn can the ethanol industry use?
- USDA releases 2012 cash rents data report
- Commentary: Government wants farmers to quit farming
- Economist: Taxing P could reduce risk of algal blooms
- Resistant weeds not controlled by fall residuals
- Do you think the term “agricultural sustainability” is as strong of a buzzword and emphasis for action in the industry as it was 3 years ago?