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chemchina acquires syngenta

Meanwhile, Syngenta Group intends to acquire major agricultural assets from Sinochem Group. ChemChina and Sinochem are merging their agricultural assets into a new holding company named Syngenta Group, which will be based in Shanghai, China.. The WSJ’s Rick Carew explains. ChemChina acquires Syngenta in $42bn deal. ChemChina was looking to raise as much as $10 billion in Syngenta’s pre-IPO round, Reuters reported in December, citing unidentified sources. ChemChina has won more than enough support from Syngenta shareholders to clinch its $43 billion takeover of the Swiss group. Earlier on Wednesday, the Swiss agricultural chemicals giant Syngenta said it was to be acquired by ChemChina. ChemChina has agreed to buy Swiss pesticide and seed giant Syngenta in a $43 billion deal, the most ambitious overseas takeover attempt by a Chinese company to date. Previously, ChemChina has successfully acquired 9 leading industrial companies in France, the United Kingdom, Israel, Italy, Germany and other countries. The deal was awaiting approval by the Committee on Foreign Investment in the United States (CFIUS) and European government panels, citing food safety and security concerns. Subsequently, the board of directors of Syngenta Group will engage and appoint Mr. Erik Fyrwald as Syngenta Group’s CEO, and Mr. Chen Lichtenstein will be nominated as Syngenta Group’s CFO. This move aims to further deepen the reform of state-owned enterprises and optimize resource allocation. Syngenta employed nearly 28,000 people as of 2016. Syngenta, having access to the Chinese agrichemical R&D gate, will have lower costs of new molecule discovery and pilots. The offer is equivalent to a Swiss franc value of CHF 480 per share 1 . Syngenta Group Co., Ltd. (whose current name is China Chemical (Shanghai) Agricultural Technology Corporation Ltd., hereinafter referred to as “Syngenta Group”), a subsidiary of China National Chemical Corporation Ltd. (“ChemChina”), intends to acquire major agricultural assets from Sinochem Group. Syngenta Group was formed in June this year following Syngenta’s merger with the agricultural businesses of Chinese chemicals giant Sinochem. ChemChina wants to make the company go public again in the near future to realize long term development and value addition goals. Syngenta said the deal, worth over … The company’s main businesses include materials science, life science, high-end manufacturing and basic chemicals, among others. ChemChina, as the state-owned company is known, offered about 449 francs a share in cash, which values Syngenta at 41.7 billion francs ($42 … It also estimated that the purchase opens up ways for Syngenta to gain access to the Chinese market. Syngenta acquisition In February 2016, ChemChina agreed to a $43 billion bid for Swiss seeds and pesticides group Syngenta, the largest ever foreign purchase by a Chinese firm. In an effort to secure food for its large and growing population apart from getting access to cutting edge technology and global markets, China-based ChemChina (China National Chemical Corporation), which has business interest in material science, life science and basic chemicals, has acquired Swiss-based crop protection and seeds company Syngenta for $43 billion. The deal comes on the heels of an offer Syngenta turned down last August, when Monsanto offered to buy it for $47 billion. ChemChina’s acquisition of ag-tech giant Syngenta is part of a broader strategy that could change food supplies and costs worldwide. “This offer, which is recommended unanimously by our Board of Directors, fully values the quality of Syngenta’s business portfolio, our people and our market positions around the world,” said Syngenta’s COO Davor Pisk. ChemChina is the largest chemical corporation in China. Syngenta has announced that ChemChina has offered to acquire the company for $43 Billion. Mr. Ning Gaoning is the chairman of the board of directors of Syngenta Group. ChemChina announces the definitive interim results for its offer to acquire Syngenta 10 May 2017 China National Chemical Corporation ("ChemChina") today announced the definitive interim results for the tender offers to purchase all publicly held registered shares ("Common Shares") of Syngenta AG ("Syngenta") and all outstanding American Depositary Shares representing Common Shares ("ADSs"). Source: ChemChina. The board of directors of Syngenta Group will complete the appointment of relevant senior managements. BASEL, SWITZERLAND — China National Chemical Corp., also known as ChemChina, has agreed to acquire Syngenta for $43 billion, a transaction billed as the largest foreign acquisition … The acquisition also follows a consolidation trend in this space started last December by the Dow-DuPont merger. In addition, after the completion of the transfer of shares in ADAMA Ltd., Syngenta Group will recommend Erik Fyrwald to the board of directors of ADAMA Ltd. as a candidate of director and chairman of ADAMA Ltd.. Syngenta Group to Acquire Major Agricultural Assets from ChemChina and Sinochem Group, Produced By CMS 网站群内容管理系统 publishdate:2020/04/04 08:40:26. Syngenta Group Co., Ltd. (whose current name is China Chemical (Shanghai) Agricultural Technology Corporation Ltd., hereinafter referred to as “Syngenta Group”) is a wholly-owned subsidiary of China National Chemical Corporation Ltd. (“ChemChina”). BASEL, Switzerland — Syngenta announced that ChemChina has offered to acquire the company at US$ 465 per ordinary share plus a special dividend of CHF 5 to be paid conditional upon and prior to closing. ChemChina announced it would make an offer to acquire the Swiss company … In the future, ChemChina will implement a strategy to make Syngenta go public again with a view to realize long-term development and create greater value, the company said. Syngenta, which has about 730 Triad employees, has been on an acquisition spree lately. Syngenta today announced that ChemChina has offered to acquire the company at US$ 465 per ordinary share plus a special dividend of CHF 5 to be paid conditional upon and prior to closing. Meanwhile, the 100% shares of Syngenta A.G. and 74.02% shares of ADAMA Ltd. held by ChemChina will also be transferred to Syngenta Group. This is also an important measure for Sinochem Group and ChemChina to further strengthen cooperation. ChemChina intends to inject the 100% shares of Syngenta A.G. and 74.02% shares of ADAMA Ltd. held by ChemChina to Syngenta Group. As soon as permitted by law and applicable regulation, it is intended to de-list the shares from the SIX and to de-list the ADSs from the NYSE. ChemChina may aim for less than that as some potential investors have balked at the terms of the round, which imply a company valuation that is too high, the people said. ChemChina and Syngenta reach acquisition agreement (Beijing, February 3) China National Chemical Corporation (“ChemChina”) has announced today that it has agreed to acquire the Swiss agrochemical and seeds company Syngenta by way of a public tender offer. This move aims to further deepen the reform of state-owned enterprises and optimize resource allocation. Thus, the national company of chemicals in China, ChemChina will end this year the acquisition of a majority stake in Syngenta, one of the largest leading agricultural companies. ChemChina [CNCC.UL] has won more than enough support from Syngenta shareholders to clinch its $43 billion takeover of the Swiss pesticides and seeds group, the two companies said on Friday. The financial news website yicai.com saw Chinese companies' continued investment in biotechnology firms as a way to secure the food supply for China's growing population. Jiemian, another financial news portal, pointed out tha… ChemChina intends to inject the 100% shares of Syngenta A.G. and 74.02% shares of ADAMA Ltd. held by ChemChina to Syngenta Group. The offer is equivalent to a Swiss franc value of CHF 480 per share1. Meanwhile, Syngenta Group intends to acquire major agricultural assets from Sinochem Group. This represents a major step towards the closing of the transaction, which is expected to take place in the second quarter of 2017. This move aims to further deepen the reform of state-owned enterprises and optimize resource allocation. ChemChina, as of now, has acquired around 98% of Syngenta's shares and will push for a delisting of Syngenta from both Switzerland and the United States. Syngenta shareholders will in addition receive the proposed ordinary dividend of CHF 11 in May 2016. ChemChina to Acquire the Major Agricultural Assets from Sinochem Group, Produced By CMS 网站群内容管理系统 publishdate:2020/04/04 08:40:26. About Syngenta. Not only are ChemChina’s R&D organizations cooperating with Syngenta, Sinochem’s R&D institutions like Zhejiang Research and Shenyang Research are also starting collaborations with the company for new R&D projects. In the First and the Second Settlement, ChemChina acquired 94.7 percent of Syngenta shares in aggregate. On the day the deal was announced, the Chinese media saw it as an indication that its government is looking beyond emerging markets to invest in developed economies. Currently, ChemChina is the largest chemical company in China and it’s owned by the state. Date: 2020-01-05. By Emily Cashen | Monday, August 22nd, 2016 In April, the company announced its acquisition of Abbot & … Placing ChemChina and Sinochem businesses under one holding company could also avoid triggering U.S. government scrutiny of Chinese ownership in Swiss agro-giant Syngenta… China finalises its most expensive foreign takeover yet, after US watchdog approves multibillion-dollar deal with Swiss agribusiness Syngenta . The reorganized company also incorporated Israeli crop protection outfit Adama which, like Syngenta, had previously been acquired by ChemChina – another Chinese chemicals major which is in the midst of its own $146 billion … When China National Chemical Corp. (ChemChina) acquired Switzerland’s Syngenta AG in 2017 for a blockbuster $43 billion, it paid only $5 billion of its own capital, cobbling together loans from banks and other institutions to make up the rest. The reorganization includes Swiss agrochemicals producer Syngenta, which ChemChina acquired in 2017, and Israeli crop protection company Adama, wholly owned by ChemChina since 2016. This morning, Syngenta announced that ChemChina has offered to buy it at a value of over $43 billion. This is also an important measure for Sinochem Group and ChemChina to further strengthen cooperation. ChemChina acquired Syngenta for $43 billion in 2017, clinching China’s biggest foreign takeover to date amid the country’s desire to use Syngenta’s top-tier … ChemChina to Acquire the Major Agricultural Assets from Sinochem Group. The state-owned firm generated $45 billion of sales in 2015 and ranks 265th on the Fortune 500. ChemChina and Syngenta today announced that they have received approval from the European Commission for the proposed acquisition of Syngenta by ChemChina. 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