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- FMC Corporation (NYSE:FMC) has inked an agreement to sell its Global Specialty Solutions (GSS) business to Environmental Science US, LLC, known as Envu, for a purchase price of $350 million.
- Earlier in November last year, FMC said it plans to explore strategic options for GSS, a non-crop product line serving golf courses, professional sports stadiums, and pest control, as it no longer has a clear strategic role in the company’s mid- or long-term goals due to its focus on global crop protection.
- In 2022, private equity firm Cinven bought Bayer’s Environmental Science Professional business, which continued operations under the Envu name.
- The company expects to complete the sale by year-end and intends to allocate all proceeds from the sale to debt reduction.