AstraZeneca PLC
12 May 2004
ASTRAZENECA SELLS INTEREST IN ADVANTA BV
AstraZeneca PLC and its joint venture partner, (Royal Cosun), announced today
that they have reached an agreement to sell Advanta BV to Syngenta AG, for 400
million Euro plus a final net asset value adjustment. Completion will be
subject to the necessary regulatory approvals and settlement will be in cash.
The profit realised on the disposal of AstraZeneca's 50 per cent interest, will
be recorded as an exceptional item in AstraZeneca's accounts below Group
Operating Profit and does not form part of the Company's 2004 anticipated
earnings per share range of $2.00 to $2.15 per share, reaffirmed in the
announcement of the Company's first quarter results on 29 April 2004.
12 May 2004
Notes for Editors:
Advanta BV is a leading international seeds business
Announcements related to this transaction are also being issued today by Cosun,;
Syngenta AG and Fox Paine, its collaboration partner in the transaction.
Media Enquiries:
Chris Major +44 207 304 5028
Steve Brown +44 207 304 5033
Edel McCaffrey +44 207 304 5034
Investor Enquiries:
Mina Blair-Robinson, +44 207 304 5084
Jonathan Hunt, +44 207 304 5087
-Ends-
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