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Sinochem International intends to purchase nearly 40% of the shares of Yangnong Group for 7.6 billion yuan

 Last Update: 2021-11-22
 Source: Internet
 Author: User

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On the evening of February 5, Sinochem International announced the latest progress of its major asset restructuring plan.

The aforementioned asset purchase transaction and asset sale transaction are mutually prerequisites.

According to the plan, both Sinochem International and Syngenta Group will pay the above transaction consideration in cash.

According to public information, Yangnong Group has a complete chemical industry chain and a rich product line, as well as a complete fine chemical industry base, an integrated industry chain such as bio-method epichlorohydrin and epoxy resin, and the level of circular economy and technological competitiveness.

Judging from the historical performance of the Yangnong Group, from 2017 to 2019, after excluding Yangnong Chemical, the Yangnong Group, after excluding the Yangnong Chemical Industry, achieved a return to the parent due to the continuous increase in the volume of core products such as specialty chemicals and the prominent advantages of some environmental protection technologies.

Sinochem International stated that through this transaction, the company will further increase its shareholding in the holding subsidiary Yangnong Group.

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