Mitsui & Co. Ltd. has reached an agreement to acquire a controlling interest in Belchim Crop Protection NV/SA (BCP) through Mitsui’s affiliate, Mitsui AgriScience International SA/NV (MASI).
The agreement, signed on 6th December, means that MASI will acquire 62% of BCP shares from BCP’s founder, Belchim Management NV/SA (“BM”, Head Office: Belgium). Subject to European Commission approval, the acquisition will be made in two stages: first, 30% of the BCP shares will be acquired along with management control of the business. The remaining 32% will be acquired in or after February 2021. BCP’s other shareholders ISK Biosciences Europe N.V. who is an affiliate of Ishihara Sangyo Kaisha Ltd. and Mitsui Chemicals Agro, Inc. are supportive of the acquisition.
Mitsui’s investment in BCP further extends its development and distribution capabilities and provides a route for Japanese R&D innovation to reach the EU crop protection market, alongside its existing subsidiary Certis Europe B.V. (CE EU). Mitsui intends that CE EU and BCP operate as two separate companies in a first stage, whilst exploring opportunities to collaborate and improve services to customers and suppliers.
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