ChemChina to Take 60% Stake in MA Industries

China National Chemical Corp. (ChemChina; Beijing) has reached a deal to acquire a 60% stake in agchems maker Makhteshim Agan Industries (MA Industries; Tel Aviv). The deal values MA Industries at $2.4 billion. Koor industries (Tel Aviv), the parent of MA Industries, will retain a 40% stake. ChemChina will acquire all the shares currently held by public shareholders, as well as another 7% of the shares currently owned by Koor Industries (Tel Aviv) upon completion of the transaction, which is expected to take place in the second or third quarter. The companies...

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