Japanese company cements stake in Nufarm
Nufarm has confirmed that Japanese company Sumitomo Chemical has acquired 20% stake in the company.
Early last month, Nufarm shareholders approved the acquisition of up to 20% of the company at $A14 a share.
Sumitomo’s strongest business focus was in insecticides and fungicides – small market sectors for Nufarm.
In March, Nufarm indicated it would undertake a $A250 million equity capital raising with a renounceable entitlement offer to all sharesholders, following Sumitomo’s offer.