ChemChina's Crosses 98% Syngenta Threshold
ChemChina has filed a petition with the appellate court in Basel, Switzerland, to cancel the remaining shares in Syngenta not already held by the company or any of its affiliates.
The Chinese company said it now controls more than 98% of the Swiss agrochemicals producer’s capital, following the purchase of additional shares.
As of May 24, at the end of the last extension period, ChemChina had acquired 92.2% of Syngenta and had begun delisting the share from the Swiss stock exchange SIX and the ADS certificates from the New York Stock Exchange
Holders of the remaining papers will receive the offer price of $465 per share following completion of the court proceedings. At this time, Syngenta said it will apply for the delisting from the SIX to become effective.
