Tessenderlo Group has completed a $403 million minority equity investment in FMC Corporation, acquiring approximately 20.0% of the agricultural sciences company's outstanding common stock. The transaction closed on September 23, 2026, following regulatory approvals and the satisfaction of all closing conditions.

Transaction specifics

Under the definitive agreement signed on June 30, 2026, Tessenderlo purchased 30,319,166 shares of FMC common stock at a price of $13.30 per share. This strategic move establishes Tessenderlo as a significant minority shareholder in FMC.

Governance and restrictions

As part of the investment terms, Tessenderlo Group secured the right to nominate one independent director to the FMC Board of Directors. The group has nominated Luc Tack, chief executive officer of Tessenderlo Group, for this position. Additionally, Tessenderlo agreed to customary standstill restrictions while holding FMC shares and is subject to a three-year lock-up period.

Advisory roles

BofA Securities and Goldman Sachs & Co. LLC served as financial advisors to FMC Corporation. Davis Polk & Wardwell LLP acted as legal counsel for FMC. On the other side of the transaction, Stibbe BV/SRL and Sullivan & Cromwell LLP served as legal advisors to Tessenderlo Group NV.

AgroSpheres and FMC Corporation (NYSE: FMC) have advanced two proprietary RNA-based biomolecule candidates into global field trials. The development marks a transition from laboratory validation to real-world testing across three continents.

The candidates are part of a collaboration announced in 2024. They target lepidopteran pests, including fall armyworm and diamondback moth, which cause nearly $14 billion in global crop losses and control costs annually. Field trials will span key growing regions in the United States, Brazil and Asia.

From Lab to Field

The advancement follows multi-year progression through laboratory, greenhouse and small-scale field-plot testing. During these phases, the biomolecules were benchmarked against industry-standard chemistries. The candidates consistently met or exceeded performance bars before earning advancement to full-scale global trials.

Payam Pourtaheri, Co-Founder and CEO of AgroSpheres, noted that moving candidates into the field allows the science to meet the complexity of real growing conditions. He emphasized that this stage tests biological products across different climates and crop systems alongside FMC.

Dr. Seva Rostovtsev, Executive Vice President and Chief Technology Officer at FMC Corporation, stated that field trials demonstrate real-world potential across different crops and pest pressures. He expressed encouragement regarding the progress to date.

Technology Platform

The pipeline relies on AgroSpheres’ biomodality platform. This approach designs biomolecules that act on specific biological pathways within a pest, rather than relying on broad chemical action. The precision aims to reduce resistance development and limit impact on beneficial insects.

Each biomolecule is manufactured through fermentation and delivered using the proprietary AgriCell platform. AgriCell encapsulates the active biomolecule to protect it from UV exposure, heat and moisture. The encapsulation is engineered for targeted, controlled release, delivering the active ingredient where and when needed most.

What the Numbers Show

The commercial rationale for the partnership is anchored in the scale of the problem addressed. The source cites $14 billion in annual global losses from a "handful" of major moth and caterpillar species. By targeting these specific high-cost pests with a new modality, the companies are addressing a concentrated segment of agricultural risk rather than broad-spectrum pest management. This suggests a strategy focused on high-value crop protection solutions where resistance management is critical.

AgriCell’s flexibility also opens possibilities for working alongside existing crop protection chemistries. This creates potential resistance-management strategies that extend the useful life of both new and established active ingredients.