Sinofert to Acquire Phosphate Producer in China

Sinofert (Beijing) says it has entered into an agreement with Sichuan Lomon Corp. (Chengdu, China) and Tibet Longsheng Investment Management to acquire phosphate producer Xundian Lomon Phosphorus Chemical Co. for Rmb1.38 billion ($219 million). Tibet Longsheng holds a 90% stake in Xundian Lomon and Sichuan Lomon holds the remaining 10%. Xundian Lomon specializes mainly in the exploration, mining, and production of phosphate products. The company currently owns one phosphate mine with a mining license, and four phosphate mines with exploration licenses, in Yunnan...

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