State-owned China National Chemical Corp offered Swiss agrochemical and seed producer Syngenta AG more than $43 billion to acquire its entire stake, making it the biggest acquisition deal by a Chinese company.
Two companies have reached the acquisition deal in which the board of directors of Syngenta unanimously recommended ChemChina's offer to purchase 100 percent of Syngenta's equity. The offer price is $465 per share in cash.
Syngenta - a major player in agrochemicals and seeds - is proficient in delivering on the sustainability and enhancement of food security in an increasingly interconnected global production chain through its commercial offers.
ChemChina will continue to support Syngenta's integrity in its operations, management and employees, including keeping its headquarters in Basel, Switzerland. ChemChina will further maintain, promote and enhance Syngenta's exemplary reputation by continuing to invest in its leading agricultural solutions and innovation capabilities.
Syngenta has employed more than 2,000 people in China since it started business in the country in 1998. It has invested $360 million in China since 2000 to compete with established rivals from the United States and Germany.