Mexichem to buy Netafim in $1.5bn deal

Mexican chemicals group Mexichem has agreed to buy an 80% stake in irrigation systems specialist Netafim for around $1.5 billion (£1.2 billion). If approved by regulators and shareholders, the deal will be funded through a combination of cash and borrowing.

Mexichem will gain access to Netafim’s smart irrigation technology which includes digital crop management and automation systems designed to minimise water and nutrient usage.