Cortivar acquires Stole for $1.2 billion

On November 30, Cortiva announced that it had signed a definitive agreement
with Sitora.
According to the agreement, Corteva will acquire Stole
for $1.
2 billion in cash.

Sidole is one of the largest independent biologics companies in the biotechnology sector, with a footprint and marketing network in more than 60 countries around the world, and is expected to generate revenues of more than $400 million
in 2022.
The acquisition of Stoler is Corteva's second acquisition in the biologics sector following the recent announcement of the signing of a definitive agreement to acquire Xingbo
.
Corteva will integrate the commercial and technical strengths of Sedola and XINGBO as part of
its biologics strategic plan.

It is reported that the purchase price of Shitole is 1.
2 billion US dollars in cash, which is based on the valuation of Shidola's expected net profit in 2022
.
Cash will be disbursed after closing, and the final transaction is expected to close
in the first half of 2023, subject to regulatory approval and satisfaction of customary closing conditions.
Corteva expects that Stora's results will add value to its operating profit and earnings per share in 2023
.

Corteva said the acquisition reinforces Corteva's ongoing commitment to providing biological solutions to farmers, enriching evolving agricultural practices and helping farmers meet changing market expectations
.
Corteva said that Setole has a good reputation and its business model is based on channels for sharing knowledge with farmers
.
STOL has achieved success
by applying superior technology and providing the benefits and value of integrated solutions in this field.

Chuck, CEO of Corteva According to Magro, biologics provide growers with a beneficial tool for sustainable development, enhancing crop protection technologies to jointly address global challenges
around food security and climate change.
As a leader in the biologics industry, STOL has a high commercial position and strong market expansion potential, as well as attractive operational efficiency and profitable growth
.
Combined with Cortivar's leading innovation structure, Sedola will provide a good platform for the expansion and acceleration of Corteva's biologics business, helping it become one of
the largest players in the biologics market.

Corteva expects the biologics market to grow at a higher than single-digit rate per year between now and 2035, with a market share of about 25%
of the total crop protection market.
In 3 years, Corteva has gradually developed into a world leader in the field of biologics
by implementing intelligent and flexible development strategies, strengthening external and internal innovation, R&D cooperation, licensing and distribution agreements, acquisitions, etc.