October 23, 2017 / 11:44 PM / a year ago

Australia's Nufarm to buy European crop protection products for $490 mln

Oct 24 (Reuters) - Agricultural chemicals maker Nufarm Ltd said it would buy a range of European crop protection products for $490 million to strengthen its position in Europe where it generates its highest crop protection margins.

Nufarm said it would buy the product portfolio, which includes over 50 crop protection formulations, from Adama Agricultural Solutions Ltd and Syngenta AG.

The acquisition is expected to be mid-to-high single digit earnings per share accretive in fiscal 2019, the company said in a statement.

Reporting by Christina Martin in Bengaluru; Editing by Stephen Coates

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