* Syngenta to pay $160 million, on cash and debt-free basis
* Acquired business had $75 million sales in 2008
* Analyst says price quite high
(Adds analyst comment, share price)
ZURICH, August 6 (Reuters) - Syngenta, the world's largest agrochemicals company, said on Thursday it would buy Monsanto's global hybrid sunflower seeds business for $160 million.
The deal will increase Syngenta's dominance in the sector, where it claims global leadership with sales of more than $200 million in 2008.
Davor Pisk, chief operating officer of Syngenta Seeds, said the deal would strengthen the company's position in Europe and South America.
"The acquisition ... is in line with its strategy to grow its seeds portfolio via strategic acquisitions," said Vontobel analyst Patrick Rafaisz.
"The price was quite high, over two times enterprise value to sales, but it is a small bolt-on acquisition and I calculate the impact on earnings per share will be less than 1 percent."
The sunflower seeds market is currently valued at around $700 million, with more than 75 percent of the value coming from developing markets, Syngenta said in a statement.
Shares in Syngenta were up 1 percent at 244 Swiss francs at 0723 GMT, outperforming a DJ European chemicals sector index. that rose 0.6 percent.
(Reporting by Martin de Sa'Pinto; editing by Simon Jessop, John Stonestreet)
(zurich.newsroom@reuters.com; +41 (0)58 306 7462; Reuters Messaging: martin.desapinto.reuters.com@reuters.net))