IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

EU Okays ChemChina’s Acquisition of Stake in Makhteshim

4:34 AM MDT | October 4, 2011 | Deepti Ramesh

Makhteshim Agan Industries (MAI; Tel Aviv) says the European Union (EU) antitrust commission has approved the previously announced acquisition by ChemChina (Beijing) of a 60% stake in MAI. With the clearance from EU, all regulatory approvals for the acquisition have been received, MAI says. The acquisition is expected to close by October 18, 2011. MAI will become a 60-40 joint venture between ChemChina and Koor Industries (Tel Aviv) following the acquisition. Koor Industries and ChemChina signed an agreement for ChemChina’s acquisition of the stake in MAI...

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