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Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

ChemChina Seeks to Cut Valuation of the Stake It May Buy in Makhteshim

9:24 AM MST | November 22, 2010 | Ian Young

China National Chemical Corp. (ChemChina; Beijing) is seeking to reduce the size of the stake in Makhteshim Agan Industries (Tel Aviv) that it is negotiating to acquire from Koor Industries (Tel Aviv), and cut the valuation of the Makhteshim Agan shares it may buy, Koor says. Koor announced in October 2010 that it was negotiating to sell 17% of Makhteshim Agan to ChemChina, and that ChemChina was planning to purchase all of the Makhteshim Agan shares that are publicly traded. The proposed transactions would have given ChemChina a 70% stake in Makhteshim Agan and...

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