The announcement follows Syngenta's revelation last month that the company is selling off its flower seed unit to concentrate on its higher margin Lawn & Garden unit.
Referring to its vegetable seeds portfolio, the firm said in a statement published today (September 3, 2015): "This industry leading, high margin business has a significant global footprint and a wide array of best-in-class varieties. As such, it is expected to attract significant third part interest."
The company also today revealed its intention to return significant levels of capital to shareholders through a share repurchase program. The initial program of more than $2 billion will commence in the coming weeks. This, it said, will be in addition to the progressive dividend policy, which the company has followed for several years.
Syngenta’s chairman Michel Demaré said: "The board and management are determined to accelerate shareholder value creation and our actions today underpin our commitment to do so. Our commitment is also shown by the significant capital return program that we announced today."
Syngenta’s chief executive officer Mike Mack added: "By demonstrating and unlocking the inherent worth of our leading global seeds portfolio we can create significant additional value. I look forward to updating shareholders in the coming months on progress, including providing further visibility on the underlying profitability of our portfolio of assets."