Bridge financing is “committed and irrevocable” for ChemChina’s $43 billion takeover of Syngenta, a spokeswoman for the Swiss chemicals maker said on Monday, following a report on Chinese news outlet Caixin that the acquisition had hit a snag.
“We have no comment to make on this article and ChemChina is proceeding with their refinancing strategy,” the spokeswoman said. “Bridge financing for the transaction is committed and irrevocable.”
State-owned ChemChina is borrowing heavily to buy seeds-and-pesticides producer Syngenta as the country seeks new agricultural technology to bolster its growing population’s food supply. Caixin reported that a $15 billion piece of the deal’s funding remains missing, citing several people it said were close to the deal.
By John Miller
Source: Reuters
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
