Corporation News
Syngenta Group to Acquire Major Agricultural Assets from ChemChina and Sinochem Group
Source: ChemChina Date: 2020-01-05

Syngenta Group Co., Ltd. (whose current name is China Chemical (Shanghai) Agricultural Technology Corporation Ltd., hereinafter referred to as “Syngenta Group”) is a wholly-owned subsidiary of China National Chemical Corporation Ltd. (“ChemChina”). ChemChina intends to inject the 100% shares of Syngenta A.G. and 74.02% shares of ADAMA Ltd. held by ChemChina to Syngenta Group. Meanwhile, Syngenta Group intends to acquire major agricultural assets from Sinochem Group. This move aims to further deepen the reform of state-owned enterprises and optimize resource allocation. This is also an important measure for Sinochem Group and ChemChina to further strengthen cooperation.

Mr. Ning Gaoning is the chairman of the board of directors of Syngenta Group. Subsequently, the board of directors of Syngenta Group will engage and appoint Mr. Erik Fyrwald as Syngenta Group’s CEO, and Mr. Chen Lichtenstein will be nominated as Syngenta Group’s CFO. The board of directors of Syngenta Group will complete the appointment of relevant senior managements. In addition, after the completion of the transfer of shares in ADAMA Ltd., Syngenta Group will recommend Erik Fyrwald to the board of directors of ADAMA Ltd. as a candidate of director and chairman of ADAMA Ltd..

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