SeedCo is close to selling part of its shareholding in Quton, a cotton seed developer, to an Indian company Mahyco for a yet to be disclosed amount, sources said. 

SeedCo announced last year that it was looking for a technical partner for Quton, a company it owns 100 percent, which would bring expertise on the development of cotton hybrid seed. 

The stake is between 43 and 49%. 

Yesterday, Quton managing director Edward Mhandu would not be drawn into disclosing finer details, but said "why can't you wait for one or two weeks for an official announcement?". 

However, a source said Seed Co, a ZSE-listed entity and Mahyco were close to sealing the transaction.

Tags: SeedCo, Quton,