Sinochem International is purchasing the equity of Sinochem Group’s pesticide businesses and promote integration and professional development of the company’s pesticide business, Sinochem International plans to invest a total of $157.8 million (970 million Yuan) to acquire Sinochem Agrochemical, Shenyang Sciencreat Chemicals, Sinochem Agrochemical HK, Sinochem Agrochemical Brazil, and Sinochem Agrochemical Argentina.
After the completion of this transaction, the pesticide business-related assets of Sinochem’s subsidiaries, excluding Shenyang Research Institute of Chemical Industry which is R&D-related, will all be integrated into the control of Sinochem International.
Read more about the deal here.