IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

ChemChina Completes Acquisition of Majority Stake in Makhteshim

7:39 AM MDT | October 17, 2011 | Ian Young

China National Chemical Corp. (ChemChina; Beijing) has completed the previously announced acquisition of a 60% stake in Makhteshim Agan Industries (MAI; Tel Aviv). MAI's shares are delisted from the stock exchange and the company becomes a 60-40 joint venture between ChemChina and Koor Industries (Tel Aviv) as a result of the transaction. ChemChina carried out the acquisition via its China National Agrochemical Corp. subsidiary. Financial terms were not disclosed. "The merger will serve as an engine for MAI's continued growth, securing its position as a...

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