On January 5, ChemChina and Sinochem both announced that they are to integrate their agricultural assets, which will be transferred to China Chemical (Shanghai) Agricultural Science and Technology Co., Ltd., to be renamed to Syngenta Group. The integration is to deepen reform of state-owned enterprises, optimize allocation of resources and bring big changes to China’s agrochemical industry.
ChemChina intends to transfer its 100% shares of Syngenta A.G. and 74.02% shares of Adama Ltd. both to Syngenta Group, a wholly-owned subsidiary of ChemChina. Meanwhile, Sinochem is to transfer its agricultural assets to Syngenta Group. The transferred assets (abovementioned three parts) are valued at around RMB200 billion.