China: Acquisition Chemchina to Take Over Key Agricultural Assets from Sinochem
The acquisition move is expected to further strengthen cooperation between Chemchina and the Sinochem Group. Also, the 100 % shares of Syngenta and 74.02 % shares of Adama held by Chemchina is expected to be transferred to the Syngenta Group.
China – Syngenta Group (whose current name is China Chemical (Shanghai) Agricultural Technology Corporation, hereinafter referred to as Syngenta Group), a subsidiary of China National Chemical Corporation (Chemchina), intends to acquire major agricultural assets from Sinochem Group.
Meanwhile, the 100 % shares of Syngenta and 74.02 % shares of Adama held by Chemchina will also be transferred to the Syngenta Group. This move aims to further deepen the reform of state-owned enterprises and optimise resource allocation. This is also an important measure for the Sinochem Group and Chemchina to further strengthen cooperation.