China has approved merger of Sinochem Group and ChemChina Group, according to the country’s top state assets regulator. Sinochem Group and ChemChina Group have received approval to implement joint restructuring, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said late Wednesday in a statement on its website. The two companies will … Read more
ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection company ADAMA, which will also be incorporated into the new group, will be nominated CFO of the newly formed Syngenta Group. … Read more
Sinochem Energy, a unit of China’s Sinochem Group, has agreed to sell a 20% stake to five state-owned firms for 11.56 billion yuan ($1.65 billion), Xinhua news agency reported. The financial investment arms of Agricultural Bank of China and Industrial Bank of China (ICBC), and Citic Securities Investment Co were the strategic investors, the official … Read more