JOHANNESBURG May 28 (Reuters) – The South African
Competition Appeal Court has approved DuPont’s bid to buy
control of domestic seed company Pannar Seed, the two companies
said on Monday, giving the U.S. chemicals company a toehold in
Africa’s agricultural sector.
The approval is subject to the companies meeting certain
conditions, including long-term investment in South Africa, the
firms said.
Pioneer Hi-Bred, the agricultural unit of DuPont, announced
in 2010 that it was buying Pannar Seed in an effort to expand
its reach into corn production through Africa. The companies did
not disclose financial terms.
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