IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

ChemChina Negotiates Acquisition of a Majority Stake in Makhteshim Agan

1:46 PM MDT | October 11, 2010 | Ian Young

Koor Industries (Tel Aviv), a holding company, says it has "reached preliminary principle understandings" with China National Chemical Corp. (ChemChina; Beijing) on a proposal by ChemChina to acquire a majority stake in Makhteshim Agan Industries (Tel Aviv). ChemChina would purchase all Makhteshim Agan shares that are publicly traded, and an additional 17% of Makhteshim Agan from Koor, under the terms of the proposed deal. ChemChina would have a 70% stake in Makhteshim Agan following the transactions and Koor would hold the rest. Financial details were...

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