ChemChina completes acquisition of Syngenta

Updated 2017-06-09 09:30:59 Xinhua

Chinese state-owned chemical giant ChemChina announced Thursday it has completed a deal to acquire Swiss agribusiness giant Syngenta.

ChemChina has purchased 94.7 percent of Syngenta's shares so far and will push forward the delisting of Syngenta from both Switzerland and the United States, the Beijing-based company told the press on Thursday.

Following the acquisition, ChemChina will respect Syngenta's corporate culture, maintain continuity of corporate management and allow the management team of Syngenta to play its role to realize a smooth transition and orderly integration.

In the future, ChemChina will implement a strategy to make Syngenta go public again with a view to realize long-term development and create greater value, the company said.

ChemChina announced it would make an offer to acquire the Swiss company for 43 billion U.S. dollars in February 2016.

Last month, it said that the majority of Syngenta shareholders had accepted the acquisition offer.

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