EINBECK (dpa-AFX) - Seed producer KWS Saat is selling its corn seed business in China. The 49 percent stake in the joint venture there will go to joint venture partner Kenfeng, the SDax-listed company announced in Einbeck on Tuesday. The sales proceeds amount to a mid-double-digit million euro sum. Details, including the exact purchase price, were not disclosed. Management expects the deal to have a significantly positive effect on operating profit and profit after tax in the current fiscal year 2023/24 (ending June). The sale is being made in particular due to changes in the regulatory framework. The relevant Chinese authorities still have to approve the sale, and purchase agreements are expected to be concluded on November 18./men/mis