10.01.2011                     5.Shevat, 5771

Wirtschaft:

ChemChina signs agreement to buy Makhteshim-Agan from IDB

The deal is likely to strengthen global competitiveness.

China National Chemical Corp (ChemChina ) has now signed the deal to buy 60% of Makhteshim-Agan Industries. Parent company Koor industries, of Nochi Dankner's IDB group, will retain 40% of the maker of fungicides, pesticides and herbicides.
The companies had said on December 28 that a sale had been agreed and the deal would be signed within two weeks. As announced last month, ChemChina is buying the 53% of Makhteshim-Agan held by the public for $1.272 billion and will pay Koor $168 million for another 7%. The price per share is $5.57 or NIS 19.93 a share at the present exchange rate….