KWS Saat jumps after it agrees to sell corn business in South America

** Shares in KWS Saat KWS jump around 9% after the German seeds producer has agreed to sell its corn business and licenses for breeding material in South America to Argentinian plant genetic company GDM for a mid-three-digit-million euro range

** The transaction is expected to be completed in Q2 and will have a significant positive impact on its key financial figures, KWS said

** "This sale divests the majority of its South American business, though its profitable beet and veggies as well as European corn is unaffected," Jefferies says

** The broker notes that KWS is also investigating strategic options for AgReliant, its challenged North American joint venture with French company Vilmorin

** "We take these steps as positive action in narrowing strategic focus on areas where value accretion to the business is possible and profitable, with further commentary on strategic options for the US a key positive," it adds

** If gains hold, the stock will see its best day since October 2008, also topping Germany's small-cap index SSDXP