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Business

Idemitsu Bids For Agrochemical Firm

by Jean-François Tremblay
May 30, 2011 | APPEARED IN VOLUME 89, ISSUE 22

Japan’s Idemitsu Kosan will bid for SDS Biotech, an agrochemical producer listed on the Tokyo Stock Exchange, in an offer that values SDS at $92 million. At a minimum, Idemitsu will aim to acquire the 53% stake in SDS held by the private equity firm MH Capital Partners. Buying SDS, which has an established base of foreign customers, would support Idemitsu’s goal of expanding sales of biological pesticides it has developed. It would also add a line of chemical pesticides. Established in 1968, SDS supplies fungicides and herbicides for use in vegetable and rice cultivation.

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