MOSCOW (MRC) -- ChemChina has reconfirmed that all regulatory approvals and conditions required for the closing of its offers to acquire Syngenta have been obtained or satisfied, said Reuters.
In response to speculation in the market, ChemChina today reconfirmed on behalf of the Offeror that all regulatory approvals and conditions required for the closing of the offers have been obtained or satisfied. Subject to at least 67% of Syngenta’s issued shares and ADSs being validly tendered into the offers and not withdrawn as of May 4, 2017, the Offeror will purchase and pay for all such shares and ADSs at the first settlement on May 18, 2017.
As MRC informed earlier,C hina National Chemical (ChemChina) has signed a memorandum of understanding (MoU) with Rosneft to acquire a majority stake in Far-East Petrochemical Company (FEPCO) project in Nakhodka, Russia.
Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities.
ChemChina produces special chemical materials, basic chemicals, oil refining, agricultural chemistry, rubber products, and chemical equipment.