ChemChina in Talks to Buy a Majority Stake in Makhteshim

摘要

Koor Industries (Tel Aviv), a holding company, says it has reached preliminary principle understandings with China National Chemical Corp (ChemChina; Beijing) on a proposal by ChemChina to acquire a majority stake in Makhteshim Agan Industries (Tel Aviv). ChemChina would purchase all Makhteshim Agan shares that are publicly traded, and an additional 17% of Makhteshim Agan from Koor, under the terms of the proposed deal. Precise terms of the transaction are subject to negotiations between Koor and ChemChina, and to approval by the two companies' boards, Koor says.