Joy as Competition Commission rejects Pioneer Hi-Bred seed takeover

Media Advisory from the African Centre for Biosafety

Johannesburg, 8th December 2010.

The African Centre for Biosafety applauds the decision of the Competition Commission not to approve the take-over of Pannar Seed, South Africa's largest seed company, by the multinational corporation and seed giant, Pioneer Hi-Bred, a subsidiary of the DuPont chemical company.

The ACB has been monitoring the proposed merger since it was first announced in September 2010, and has made multiple submissions to the Commission opposing the merger.

The decision is a significant one as it keeps over 50 years of plant breeding experience and expertise in South African hands and puts the brakes on increased corporate concentration within the South African agricultural seed sector.

The ACB urges the Competition Commission to fully investigate the inordinately powerful and dominant position that Monsanto occupies in South Africa¹s agricultural markets.

Contact: Mariam Mayet, 083 269 4309

To view ACB's submissions, please see www.biosafetyafrica.org.za