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Bangalore May 10 Avestha Gengraine Technologies's (Avesthagen) joint venture with French seeds major Groupe Limagrain has acquired majority stakes in two domestic seed companies. Financial or other details were not disclosed.

In a press release, Avesthagen said the joint entity, Atash Seeds P Ltd, formed in September 2006, has bought into Swaghat Seeds P Ltd, a Hyderabad-based integrated field crop seeds company, and Cee Kay Seeds & Seedlings P. Ltd, a Bangalore-based vegetable seeds company.

These acquisitions would be a platform for Avesthagen to address low productivity under stressed growing conditions through its new technologies — Hybrid Fit, Drought Fit, Salinity Fit, the release said.

Atash is one of the two ventures formed by Avesthagen and Limagrain and will enable research programmes for developing novel seed varieties for farmers in Karnataka and other States, Avesthagen said. The Bangalore-based biotechnology company holds 41 patents in agri-biotechnology.

The € 1-billion Limagrain, a farmers' cooperative in plant breeding, through its subsidiary Vilmorin & Cie, is a global leader in field and vegetable crop seeds.

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