Sinochem and Halcyon to combine natural rubber assets

摘要

Sinochem International (Shanghai) and Halcyon Agri (Singapore) have agreed to combine their natural rubber assets to create what they call “the world’s leading natural rubber supply chain manager.” The businesses, which have total revenues of $2.3 billion, will be combined under Halcyon. Sinochem will pay S$0.75 ($0.55) per share for a 30.07% share of Halcyon, and make a mandatory general offer to all shareholders at the same price. Sinochem will hold at least 53.98% of Halcyon when the offer is completed. Halcyon shares, which are traded on the Stock Exchange of Singapore, opened Monday 28 March at S$0.74.