Investing.com -- Denso Corp. (TYO: 6902 ), a Japanese vehicle parts supplier, is reportedly in the final stages of negotiations to purchase a seed supplier backed by Singapore investment firm Temasek.
The deal is expected to be valued at around $500 million, marking a significant step in Denso’s expansion into the agriculture sector, according to Bloomberg on Monday.
Axia Vegetable Seeds Group, nearly half-owned by Temasek, is the seed supplier in question.
The completion of the sale is anticipated to yield a profit for the Singaporean investment firm, the report said, citing individuals familiar with the matter, who requested anonymity due to the private nature of the discussions.
Details of the ongoing negotiations remain private, and there is no official confirmation from either Denso Corp. or Temasek at this time, the report added.
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