Syngenta announced today that the European Commission has approved the acquisition of Advanta BV, one of the world’s leading seed companies.

As announced on 12 May, Syngenta acquires Advanta’s North American corn and soybean business, which trades under the highly regarded Garst brand. The investment company Fox Paine acquires all Advanta operations outside North America and the non-corn and nonsoybean operations within North America. A decision by the European Commission about the acquisition by Fox Paine is expected later this month.\

The date of final closing of the acquisition of Advanta by Syngenta is subject to the US approval by the Department of Justice. This is expected soon.

Together with the recently approved acquisition of the Golden Harvest group of companies, this transaction will increase Syngenta’s US market share in corn to 15 per cent and in soybean to 13 per cent(1).

Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2003 were approximately $6.6 billion. Syngenta employs some 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT).

(1) Source: Pro forma 2003: Doane estimates