“ChemChina, a state-owned enterprise, has filed for an IPO of Syngenta, the world’s largest producer of agricultural chemicals, which it bought for $43 billion in 2017 (a deal that Fortune chronicled in detail). It remains China’s biggest foreign acquisition. Now the IPO could be one of China’s biggest.”
Read the full article @ Fortune (paywall):
“The Chinese government has a stake in 53% of Swiss companies acquired by Chinese firms since 2010, according to a think tank study.”
Read the full article @ Swissinfo.ch:
The owner Chem China wants to bring the agrochemical business of another Chinese state company, the Sinochem company, into the Basel group. At the same time, Syngenta receives a new CFO with experience in China.
@ NZZ | January 7, 2020
Der Besitzer Chem China will in den Basler Konzern das Agrochemiegeschäft eines weiteren chinesischen Staatskonzerns, der Firma Sinochem, einbringen. Zugleich erhält Syngenta einen chinaerfahrenen neuen Finanzchef.
@ NZZ | 7. Januar 2020
China National Chemical Corp oder ChemChina hat im Rahmen einer Umstrukturierung seines Agrargeschäfts vor dem Börsengang laut Angaben von fünf mit der Situation vertrauten Personen von staatlich finanzierten chinesischen Investoren Finanzierungsmittel in Höhe von bis zu 10 Mrd. USD beantragt. Die Reorganisation umfasst den Schweizer Giganten Syngenta.
@ Nasdaq (Englisch) | 19. Januar 2019
China National Chemical Corp, or ChemChina, has approached Chinese state-backed investors for up to $10 billion in funding as part of a reorganisation of its agrichemicals business ahead of a public float, according to five people familiar with the situation. The reorganisation includes Swiss giant Syngenta.
@ Nasdaq (English) | December 19, 2019
The former chairman of China’s biggest offshore oil and gas company has been appointed general manager of state-owned energy giant SinoChem to oversee its mega-merger with ChemChina.
The news comes as ChemChina reportedly prepares to list Swiss pesticide-maker Syngenta AG, which it bought in 2017 for $43 billion — in the largest overseas acquisition by a Chinese company to date.
@ Caixin | September 2, 2019
The Swiss government has dismissed talk of introducing investment controls on Chinese companies despite requests from parliament to examine the risks.
@ Swissinfo.ch | February 14, 2019
China National Chemical Corporation is set to increase its holding in commodity trader Mercuria, as part of a deal that will see the Swiss group gain an interest in the Chinese company’s onshore refining system. Under the agreement, which is yet to be finalised, the state-controlled conglomerate will add to its 12 per cent stake in Mercuria, one of the world’s biggest traders of oil, gas and metals.
@ Financial Times | April 18, 2018
Switzerland can expect to see a lot more companies coming over from China in the coming years, according to Liu Jiren, co-founder and chairman of leading Chinese software firm, Neusoft.
Chinese companies made the headlines in Switzerland last year with several notable merger and acquisition (M&A) deals, including the record $43.3 billion takeover of Basel agrochemical giant Syngenta by the China National Chemical Corporation (ChemChina).
“Yet more are taking advantage of Switzerland’s political stability, technical know-how, strong financial system and low corporate tax rates to set up regional headquarters in the alpine nation. It also helps when diplomatic relations between the two countries are at a high point, as witnessed by the free trade agreement and visit earlier this week of Chinese President Xi Jinping.”
Read the full article @ Swissinfo:
