ChemChina and Sinochem to merge agricultural assets into Syngenta Group.

China National Chemical, a state-owned chemical company is set to merge its agricultural business with Sinochem, a Chinese conglomerate primarily engaged in the production and trading of chemicals and fertilizers, into a new holding company to be called Syngenta Group. ChemChina intends to inject 100% shares of Syngenta and 74.02% shares of ADAMA held by ChemChina into 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.