China National Chemical Corporation (ChemChina) announced plans this week to buy 60 percent of Makhteshim Agan Industries, the world’s largest maker of generic agricultural chemicals, from leading Israeli holding company Koor Industries for $2.4 billion.
The deal will see ChemChina pay $1.272 billion for 53 percent of MA Industries’s public shares and another $168 million for the 7 percent held by Koor, Reuters reports, with the acquirer forwarding an additional $1 billion non-recourse loan to Koor. Bloomberg reports that Israeli billionaire Nochi Dankner, who controls Koor, has flown to China to finalize the deal, which will strengthen economic ties between the country and Israel.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
