Tuesday 13 August 2019

Delaware, US-based agriculture company Corteva, Inc. (NYSE: CTVA) has invested in Israel-based Lavie Bio, an agriculture biologicals subsidiary of biotechnology company Evogene Ltd., (NASDAW: EVGN) (TASE: EVGN), the company said.
The transaction includes the exchange of all shares of Corteva's wholly owned subsidiary Taxon Biosciences along with an equity investment by Corteva in Lavie. As consideration for the Taxon Biosciences shares and equity investment, Corteva will be issued approximately 30% of Lavie's equity while Evogene will hold approximately 70% of Lavie's equity.