In October 2010, China Chemical once again set off a wave of overseas acquisitions. The world's largest imitation pesticide manufacturer MAIndustries was acquired by China National Chemical Corporation. It is understood that there was no signing of an intent agreement with Maxim Agan in 2010, but until May 5, 2011, according to Reuters Tel Aviv on May 5th, China National Chemical Corporation's acquisition of a controlling stake in Israeli pesticide company MAIndustries , close to the final approval.
China National Chemicals said it is awaiting final approval, which is approved by the State Administration of Foreign Exchange, which is expected to be approved in the next few days, MaIndustries said on Thursday. Both parties have extended the deadline for obtaining regulatory approval in China until May 13. This transaction was approved by the National Development and Reform Commission of China in March and was also approved by the Ministry of Commerce of the People's Republic of China. IDBHolding subsidiary Koor Industries holds a 47% stake in the pesticide company. China Chemical will spend USD 1.27 billion to buy 53% of MA from the public and pay Koor $168 million to acquire another 7% of the shares.
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