Syngenta and Valagro have proposed a non-binding offer to acquire SICIT Group at EUR 17.30 per share, highlighting the potential for synergies and value creation in the Italian agricultural market.
Target Information
Syngenta Crop Protection AG, in collaboration with Valagro S.p.A., has submitted a non-binding expression of interest to acquire SICIT Group S.p.A., a company listed on the MTA Star Segment of Borsa Italiana. This proposal includes a cash tender offer of EUR 17.30 per share, unaffected by the expected dividend of EUR 0.55 per share, pending confirmatory due diligence and the necessary board approvals.
The expression of interest was presented in a transparent and amicable manner, highlighting the potential benefits of a combination between Syngenta, Valagro, and SICIT Group. This partnership aims to create value for shareholders, clients, and stakeholders, especially the tanneries located in the Arzignano district, by ensuring stability in service agreements.
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Industry Overview in Italy
The agricultural sector in Italy has faced various challenges over the years, from climate change to changing regulatory frameworks, which has impacted crop yields and food production. However, the industry is also experiencing significant growth potenti
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Disclosed details
Transaction Size: $157M