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.

ASX: NUF


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