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DowDuPont: Dow's corn seed business in Brazil sold.

(CercleFinance.com) - Dow Chemical, a division of DowDuPont, said on Friday that it has completed the divestment of part of Dow AgroSciences' corn seed business in Brazil to China's Citic Agri Fund for 1.
1 billion dollars.

The scope of the deal includes four corn seed production sites and four research centers, along with a copy of the Dow AgroSciences' Brazilian corn germplasm bank, certain commercial and pipeline hybrids, and the Morgan trademark.

Citic will also receive a license to the Dow Sementes trademark for 12 months.

The sale is part of the required regulatory remedies of the DowDuPont merger transaction, which closed in last August.

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