Pioneer to challenge ban on pannar merger

2010-12-14 00:00

PIONEER Hi-Bred — with the support of Pannar Seed — plans to refer the Competition Commission’s decision not to allow their merger to the Competition Tribunal for reconsideration.

The global agricultural business, U.S.-based Pioneer Hi-Bred, plans to buy a majority stake in Greytown-based agri-business giant Pannar Seed. “Pioneer Hi-Bred and Pannar Seed are disappointed that the South African Competition Commission has not accepted the proposed partnership. Both companies feel that the reasons cited for the decision need to be revisited in conjunction with the competition authorities,” Pannar said.

The companies said they still believe that the proposed partnership is in the best interests of the companies, their customers and other stakeholders.

“It is critical in realising agricultural productivity improvements, especially in Africa, and would contribute to food security and improved living standards. Together Pannar and Pioneer could deliver better products faster to meet the needs of both commercial and developing markets in Africa.” — Business Editor.

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