ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Business

ChemChina to buy Syngenta for $43bn

 (placeholder image)
Syngenta's headquarters in Basel, Switzerland   © Reuters

BEIJING -- ChemChina, a major Chinese state-owned chemicals company, said Wednesday it will acquire Swiss agrochemical giant Syngenta for over $43 billion (5.16 trillion yen). The deal will be the largest overseas acquisition by a Chinese company.

     ChemChina aims to tap the Swiss company's expertise in agrochemicals and seeds. Syngenta is the world's largest player in the industry.

     The deal comes amid a spate of high-profile Chinese takeovers in developed countries aimed at acquiring intellectual property and global brands. In January, for example, major Chinese consumer electronics company Haier said it will buy the consumer appliance division of General Electric.

     ChemChina plans to buy all of Syngenta's outstanding shares, and take over its operations and workforce. The Chinese company will retain the Swiss company's brand. The companies will jointly conduct research and development and invest in new lines of business.

     The deal follows ChemChina's purchase last year of Italian high-end tire maker Pirelli for 7.1 billion euros (930 billion yen).

     The realignment of the global chemical industry has been accelerating since U.S. powerhouses Dow Chemical and DuPont announced a megamerger late last year. Monsanto, a major U.S. agriculture company, made several unsuccessful offers to buy Syngenta.

     ChemChina placed a bid for Syngenta last year but struggled to clinch a deal, industry sources say. In the end, however, the Swiss company was persuaded by the Chinese company's deep pockets and the huge Chinese market.

     

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media