Tag: Syngenta

Launch of Syngenta Group – creating a global agritech market leader | Syngenta

“Syngenta Group Co. Ltd., announced today the official launch of Syngenta Group, a new global leader in agricultural science and innovation. Under a single entity, it unites the strengths of Syngenta AG, headquartered in Switzerland, ADAMA, based in Israel, and the agricultural businesses of Sinochem, based in China. The new entity, headquartered in Switzerland, has 48,000 employees in more than 100 countries, and had sales of US$23 billion in 2019.”

Read the full post @ Syngenta:

Launch of Syngenta Group – creating a global agtech market leader
A leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities.

Even more China: Syngenta is increasingly detaching from its Swiss roots | NZZ

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

ChemChina seeks funding from Chinese state-backed firms ahead of Syngenta IPO | Nasdaq

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

China Is Struggling to Offload Foreign Acquisitions, From Yachts to Pizza | Swissinfo

China Inc. is struggling to offload overseas businesses and the accompanying debt in an increasingly volatile market.

In just a few weeks, companies from yacht makers to luxury clothing and pizza outlets — acquired by Chinese firms in recent years — have either scrapped planned initial public offerings or sought alternatives to reduce their debt piles.

@ Swissinfo.ch| October 22, 2019

CNOOC Head Moves to SinoChem to Smooth State-Owned Energy Merger | Caixin

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

Swiss government rejects takeover restrictions on Chinese firms | Swissinfo

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

Why more Chinese companies will come to Switzerland | Swissinfo

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:

Why more Chinese companies will come to Switzerland
Switzerland can expect to see a lot more companies coming over from China in the coming years, according to Liu Jiren, CEO of Neusoft.