On February 5, Sinochem International announced that it will acquire a 39.88% stake in Jiangsu Yangnong Chemical Group Co Ltd from Syngenta Group for RMB 7.597 billion.
Upon the completion of the deal, Syngenta Group will no longer hold any interest in Yangnong Group, while Sinochem International's equity in Yangnong Group will rise to 79.88%.
Yangnong Group has a complete industry chain and diverse portfolios as a leader in chemical intermediates and fine chemical products in China. The company is expected to further explore the downstream fine chemical sector.
With the start-up of the first phase of C3, bisphenol A and epoxy resin projects, Yangnong Group is set to significantly improve its profit margin to lay a solid foundation for Sinochem International's business performance in the future.