Monsanto India to sell units for Rs 33cr

The board of directors of Monsanto India, which met on January 21, 2008, cleared a proposal to dispose off the Butachlor and Alachlor businesses to Sinochem International (Overseas) or its associates in India for a consideration of $8.4 million (approximately Rs 33 crore).

According to a release issued by Monsanto to the BSE today, the decision is subject to approval of shareholders. The company would be conducting postal ballot to seek shareholder approval, the release added.