The company said it expects to sell its corn unit and the corresponding 49 per cent minority stake in joint venture Kenfeng-KWS Seed to its Chinese partner firm Kenfeng for a mid-range double digit million euro sum.
China has approved genetically modified corn for domestic companies, but bans foreign companies – including partners in joint ventures – from developing GMO corn traits. Kenfeng-KWS Seed was founded as a joint venture in 2014 as KWS Saat bet on the Chinese corn market opening up to foreign companies.
Belgique Dernières Nouvelles, Belgique Actualités
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US lawmakers urge Yellen to speed up China outbound investment rulesWASHINGTON : The Republican and Democratic leaders of a U.S. congressional committee on China urged Treasury Secretary Janet Yellen to urgently implement outbound investment restrictions on the country, warning that Beijing was using American capital to develop technologies as her department debated new rules.
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