Switzerland/China: Acquisition Marathon Chemchina Submits First Settlement of Tender Offers for Syngenta

Editor: Alexander Stark

China National Chemical Corporation (Chemchina) announced the successful completion of the First Settlement of their tender offers for Syngenta.

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Ren Jianxin, Chemchina Chairman
Ren Jianxin, Chemchina Chairman
(Source: Syngenta)

Basel/Switzerland — Shareholders who tendered their shares by May 4, 2017 received the consideration of US$ 465 per share, and holders of American Depositary Shares ("ADSs") who tendered their ADSs received US$ 493 per ADS, on May 18, 2017, Chemchina announced. Shareholders who tender their shares or ADSs by the end of the Additional Acceptance Period on May 24, 2017 will receive the same consideration in the Second Settlement. The Second Settlement is expected to occur on June 7, 2017. In addition, a dividend of CHF 5 (approx. € 4,7) per share was paid to all shareholders on May 16, 2017.

The prospective timetable for the closing of the offers is:

Wednesday, May 24, 2017: End of the Additional Acceptance Period

Friday, May 26, 2017 (at the latest): Provisional notice of the end result of the Offer

Wednesday, May 31, 2017: Definitive notice of the end result of the Offer

Wednesday, June 7, 2017: Second Settlement

Further, as soon as permitted by law and applicable regulations, it is intended to de-list the shares from the Six and to de-list the ADSs from the Nyse.