China DealBook
A Newsletter on Deal Making in China

By: ChinaDesk | September 16, 2016

A Newsletter on Deal Making in China

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Deal News


Three firms vie for BP’s China petrochemicals plant


At least three leading chemical companies are set to vie for BP’s stake in Chinese petrochemicals joint venture SECCO which could fetch more than $2 billion, sources close to the process said.


Offers for the 50 percent stake, the British oil and gas company's largest investment in China, will be submitted in the coming days.


By: ChinaDesk | September 14, 2016

A Newsletter on Deal Making in China

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Deal News

China’s Sanonda to buy Israel’s Adama Agricultural for $2.8 billion

China's Hubei Sanonda will acquire Israel's Adama Agricultural Solutions for about 18.6 billion yuan ($2.79 billion). Sanonda, based in Hubei province in China's central, also said it aimed to raise up to 2.5 billion yuan in a private placement of shares to help fund Adama's production and expansion projects.

Earlier this year, Israel's Discount Investment Corp agreed to sell a 40 percent stake in Adama to Sanonda's parent China National Chemical Corp (ChemChina) for $1.4 billion, including debt. ChemChina owned 60 percent of Adama before the deal.