On the evening of June 21, Sinochem International issued an announcement stating that it had confirmed with Syngenta Group and Yangnong Group that all the preconditions for delivery involved in this transaction have been met. Sinochem International will cooperate with Syngenta Group and Yangnong Group. Promote follow-up transaction price payment and asset delivery related matters in accordance with the relevant transaction documents.
Back in the evening of November 6, 2020, Yangnong Chemical issued an announcement stating that Sinochem International intends to acquire from Syngenta Group its 39.88% equity in Yangnong Group. At the same time, Yangnong Chemical, the controlling shareholder of Yangnong Group It plans to sell its 36.17% stake in Yangnong Chemical to Syngenta Group for 10.222 billion yuan, and Syngenta Group will pay the aforementioned transaction consideration in cash. At the same time, Yangnong Group no longer directly holds shares in Yangnong Chemical, and the controlling shareholder of Yangnong Chemical will be changed to Syngenta Group.
According to Yangnong Chemical's disclosure, Sinochem International Co., Ltd. (hereinafter referred to as "Sinochem International"), Jiangsu Yangnong Chemical Group Co., Ltd. (hereinafter referred to as "Yangnong Group") and Syngenta Group Co., Ltd. (hereinafter referred to as " Syngenta Group") signed the "Framework Agreement Concerning the Equity Transfer of Jiangsu Yangnong Chemical Group Co., Ltd. and Jiangsu Yangnong Chemical Co., Ltd." (hereinafter referred to as the "Framework Agreement"). Da Group acquired its 39.88% stake in Yangnong Group (hereinafter referred to as the "Yangnong Group Transaction"). At the same time, the company’s controlling shareholder, Yangnong Group, intends to sell its 36.17% stake in the company to Syngenta Group ( Hereinafter referred to as the "Yangnong Chemical Transaction", together with the Yangnong Group transaction, hereinafter collectively referred to as "the transaction").
On the whole, after the completion of the transaction, Sinochem International will hold a total of 79.88% equity in Yangnong Group, and both Sinochem International and Syngenta will pay the above-mentioned transaction consideration in cash. Sinochem International intends to raise the transaction price through its own funds and self-raised funds.
