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  • Mar 16, 2000 - Monsanto integrates agri–business into listed company

Monsanto integrates agri–business into listed company

Mar 16, 2000

The agro–chemical multinational Monsanto has announced plans to integrate its agri–business into its listed 40% arm Monsanto Chemicals. The shareholding of the parent would increase to 72% after a share swap. The world over Monsanto has been doing path-breaking research in biotechnology especially genetic seeds, which do not involve the use of agro–chemicals. The company developed and patented jpointly the Gene Protection Technology with Delta & Pine Land. However Monsanto made a public commitment that it would not commercialise gene protection technologies.

In India, Monsanto along with Mahyco (the Aurangabad based research laboratory run by Mr. Barwale) has developed the bollworm resistant cotton seeds. This joint venture along with the other agreements with EID Parry and Rallis would all come under the umbrella of the listed company.

The deal would shore up the sentiment in the stock and be beneficial for the shareholders of the company in the long term who would become a part of the action likely to unfold in the Indian biotech sector.

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