ChemChina-Sinochem merger to create world’s largest chem group
Merger planned next year will help ensure ChemChina’s financial strength to absorb Syngenta
Following the announcement last week that Swiss agrochemical leader Syngenta’s board accepted ChemChina’s US$43 billion purchase offer, there is news of an accompanying merger move.
The Financial Times reports that ChemChina is planning to merge with Sinochem to help ensure the financial strength to absorb Syngenta, citing several senior bankers in Asia.
The move would create the world’s largest chemicals groups with an estimated US$100 billion in revenues and would mark a key step towards China’s goals of improving agricultural yields through the acquisition of foreign technology.