SAO PAULO, Dec. 14 (Xinhua) -- The Chinese conglomerate of Yuan Long Ping High-Tech Agriculture Co., Ltd. And CITIC Agri Fund recently completed the acquisition of Dow AgroSciences' corn seed business, and renamed it as LP Sementes.
Dow AgroSciences is a subsidiary of U.S. chemical giant Dow Chemical Co in Brazil. The 1.1-billion-U.S. dollar takeover includes Dow AgroSciences' seed processing plants, seed research centers and corn germplasm bank in Brazil.
CITIC Agri Fund has been committed to selecting outstanding modern agricultural enterprises worldwide to further promote industrial development through the leveraging of capital, commented Shi Liang, General Manager of CITIC Agri Fund in a related event in Sao Paulo, Brazil. (Edited by Yang Qi, kateqiyang@xinhua.org)
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