BASEL, Switzerland & ATESSA, Italy--(BUSINESS WIRE)--Further to our press releases dated 6 May and 12 May, 2021, Syngenta Crop Protection AG (“Syngenta”) and Valagro S.p.A. (“Valagro”) have decided not to pursue their interest for SICIT Group S.p.A. (“SICIT Group”) and to abandon the intention to launch a voluntary tender offer over SICIT Group's shares pursuant to articles 102 and 106, fourth paragraph, of the Italian Financial Act.
Syngenta and Valagro appreciate the availability of SICIT Group to consider our interest and the access to confirmatory due diligence information. Syngenta and Valagro continue to be impressed with the SICIT Group team, business and products.
Nonetheless, the latest circumstances have left it difficult for Syngenta and Valagro to develop a reasonable path forward for a transaction and, as a result, Syngenta and Valagro will not be proceeding with the proposed transaction. We, of course, continue to wish the best success for SICIT Group and all associated with SICIT Group.
About Syngenta
Syngenta is one of the world’s leading agriculture companies, comprised of Syngenta Crop Protection and Syngenta Seeds. Our ambition is to help safely feed the world while taking care of the planet. We aim to improve the sustainability, quality and safety of agriculture with world class science and innovative crop solutions. Our technologies enable millions of farmers around the world to make better use of limited agricultural resources. Syngenta Crop Protection and Syngenta Seeds are part of Syngenta Group. In more than 100 countries we are working to transform how crops are grown. Through partnerships, collaboration and The Good Growth Plan we are committed to accelerating innovation for farmers and nature, striving for regenerative agriculture, helping people stay safe and healthy and partnering for impact.
To learn more visit www.syngenta.com and www.goodgrowthplan.com.
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About Valagro
Valagro is a leader in the development, production and marketing of biostimulant and advanced nutrient solutions for cash and row crops. Founded in 1980 and with its headquarters in Atessa (Italy), Valagro is committed to providing innovative and effective solutions for plant nutrition and health. Its mission is to increase the quantity and quality of plants and harvested crops while enhancing productivity and reducing the environmental impact of cultivation. Valagro uses science in the service of humankind to improve nutrition and the quality of life while respecting the environment. Valagro became part of Syngenta Crop Protection in 2020.
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This document may contain forward-looking statements, which can be identified by terminology such as ‘expect’, ‘would’, ‘will’, ‘potential’, ‘plans’, ‘prospects’, ‘estimated’, ‘aiming’, ‘on track’ and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. For Syngenta, such risks and uncertainties include risks relating to legal proceedings, regulatory approvals, new product development, increasing competition, customer credit risk, general economic and market conditions, compliance and remediation, intellectual property rights, implementation of organizational changes, impairment of intangible assets, consumer perceptions of genetically modified crops and organisms or crop protection chemicals, climatic variations, fluctuations in exchange rates and/or commodity prices, single source supply arrangements, political uncertainty, natural disasters, and breaches of data security or other disruptions of information technology. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
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