China National Chemical Corp (CNC. YY), or ChemChina, acquired 82.2% of the share capital of Syngenta AG (SYNN. EB), the Swiss manufacturer of pesticides and seeds, in a public offer to acquire the Swiss company for US $43,000 million (EUR 39.367 million), stated the Swiss company on Wednesday.
The minimum bid acceptance ratio was 67% of Syngenta's issued shares.
An additional offer acceptance period will begin today and end on May 24.
The transaction was announced in February 2016, when ChemChina offered US $465 in cash and a special dividend of 5 Swiss francs per share to Syngenta shareholders, a proposal that the holders of the Swiss multinational accepted.
ChemChina is a state-owned company from China that ranks among the country's top 500 company's and is ranked 19th within the world's 100 best chemical companies.
In turn, Syngenta is a Swiss manufacturer of pesticides and seeds that has more than 28,000 employees in 90 countries.
Source: EFE