Beijing February 3, China chemical industry group co., LTD. (" China chemical ") today announced it had agreed to by public offer Swiss agrochemical and syngenta seeds company.
China national chemical and syngenta purchase agreement, syngenta's board of directors unanimously recommended chemical buying syngenta's 100% stake in China offer, offer price at $465 a share in cash. Offer to trade also allows for delivery when payment of five francs special dividends per share, depends on syngenta shareholder approval. Syngenta has issued equity capital totaling $43 billion. The acquisition depends on the country's antitrust review and approval.
Syngenta is a global agrochemical industry leader and one of the world's seed industry leading enterprises, has been committed to commercial products and services, through its "green growth plan" and syngenta sustainable agriculture fund, realize sustainable development, and under the background of the global production chain increasingly associated to improve food safety. China national chemical commitment syngenta continues to achieve these goals.
China chemical industry fully support syngenta operation, the integrity of the management and staff, including its headquarters in Basel, Switzerland. China chemical industry will keep further, promote and upgrade the outstanding reputation of syngenta, continue to its leading agricultural solutions and innovative ability to invest. At the same time, China's chemical industry will speed up the implementation of the strategy of syngenta, first is up to the next stage of growth to open up new markets and new opportunities, and plans in the next few years to listed companies.
China's chemical industry is an ideal partner to syngenta, can help to accelerate the next stage in the development of China and other emerging markets, syngenta seeds and crop protection products can let farmers worldwide to make better use of existing resources to meet the global consumer demand growth.
China chemical chairman jian-xin ren said: "we are very glad to through the principles of" friendship and cooperation "with the agreement announced today. We will work with syngenta management and employees work together to keep the company in the field of global agricultural science and technology the most leading competitive advantage." He added: "our vision is not only confined to the interests of both sides, but also will protect the interests of farmers and consumers worldwide. We are looking forward to Michel Demare remain in the board of directors as deputy chairman of the board of directors and independent directors, we look forward to working with John Ramsay and management and staff to be cooperation, common for global market continued growth and demand for food safety and reliable solutions."
Syngenta chairman Michel Demare, said: "by the offer, China chemical industry recognised syngenta quality and potential of the business, including the industry's leading research and development, manufacture ability and the quality of our global employees. The deal the interrupt and the implementation of operational risk has fallen to the lowest level; focus on the growth of the world especially in China and other emerging markets, and help to long-term investment of innovation, it is essential to the global food security. Syngenta will still be syngenta, and continue to retain headquarters in Switzerland, fully embodies the Swiss as to the appeal of the enterprise."
Syngenta chief executive John Ramsay said: "syngenta is the global agrochemical industry leading companies; and over the past decade has been greatly expanded its share in the global market. The deal will help us to maintain and expand the market, at the same time greatly improve the potential of our seed business. Trading will be the most efficient way to ensure that we continue to offer different options for growers, and ongoing technology platform and crops r&d investment. We are in the same commitment to cost and capital efficiency."
HSBC bank, citic bank (international) as the transaction of the financial advisers, credit suisse bank for the transaction of bid agency, the United States ChengXin law firms and Switzerland HengBo acting as legal counselors of the transaction.
About syngenta
Syngenta is a world leading company in 28000 employees in more than 90 countries around the world dedicated to stimulate the potential of plants. Through the science, the world's best global coverage and commitment to customers, syngenta help enhance crop production efficiency, to protect the environment and to improve health and quality of life. More information please visit syngenta website: http://www.syngenta.com/.
About China chemical
Chemical based in Beijing, China in 150 countries and regions have a production, research and development base and marketing system, is China's largest chemical companies, the world top 500 ranked 265th, major in material science, life science, high-end manufacturing and basic chemical fields. Previously, China chemical industry successfully acquired French, British, Israel, Italy, Germany and other countries the nine industry leading enterprises. More information please visit China chemical website: www.chemchina.com.
For more information, please contact:
Mr Ren Kan
+86 138 1097 7565
renkan@chemchina.com
