The combined entity, Syngenta AG, will be headquartered in Basle, Switzerland, and boast of combined sales of $7.9 billion with a presence in over 100 countries. Syngenta AG would rank first in agricultural chemicals and third in seeds. Globally, Novartis shareholders will receive 61 per cent of the shares of Syngenta while AstraZeneca shareholders will receive 39 per cent of the shares of the new company.

Analysts expect Novartis to call the shots in India (the transnational figure among the top three in the agrochemicals sector) given its larger operational presence. Novartis' crop protection and seeds businesses registered sales of Rs 331.4 crore and Rs 43.8 crore, respectively, in 1998-99, while the AstraZeneca combine is expected to add another Rs 100 to Rs 130 crore to the topline, though this could not be officially confirmed.

Novartis India managing director E Schillinger told The Financial Express that the company's crop protection and seeds business has approximately 870 personnel on its rolls. Asked whether the global move would impact the proposed sale of Novartis' agrochem unit at Panoli in Gujarat, he said: "we assume so", adding that it would be a "favourable" impact.

Novartis India plans to dispose of its crop protection chemicals manufacturing facility at Panoli, as part of an attempt to "streamline and consolidate" manufacturing operations at its Santa Monica site in Goa.

The Swiss giant also has a 100 per cent owned-but unactivated-seeds subsidiary in India, while Zeneca operates via its 100 per cent arm, Zeneca Agrochemicals (Zeneca earlier bought out ICI's 49 per cent holding in the venture), a seeds firm, Advanta and a joint venture with ITC Agrotech.

Latest financials on the Zeneca group could, however, not be got.The global transaction, however, excludes Novartis' animal health business and AstraZeneca's 50 per cent holding in Advanta-a seeds venture with Dutch cooperative Cosun.

Zeneca operates through its facility in Tamil Nadu and was, some time ago, setting up another unit at Gummudipundi there.

Meanwhile, the global deal faces major antitrust hurdles and has yet to be approved by shareholders.