Devgen delisted from NYSE upon acquisition by Syngenta

27 February 2013 07:34  [Source: ICIS news]

SINGAPORE (ICIS)--Switzerland-based Syngenta announced on Wednesday that Devgen has been delisted from the NYSE Euronext Brussels following the acquisition by Syngenta.

Syngenta will hold 100% of Devgen shares after the closing and settlement of the squeeze-out. Previously, Syngenta held 98.32% of the shares, the company said in a statement.

According to Syngenta, the move to acquire Belgium-based hybrid seed firm Devgen for €403m ($523m) will strengthen its position in the global rice market.

The squeeze-out opened on 6 February 2013 and closed on 26 February 2013 (15:00 GMT), it said.

The outcome of the squeeze-out will be announced to the public on March 5, 2013 and payment of the shares and warrants tendered during the squeeze-out will take place on 8 March 2013, it added.

($1 = €0.77)

By: Surinder Malhi
+65 6780 4327

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