Recently, China National Chemical Corporation (ChemChina) has announced that it has agreed to acquire the Swiss agrochemical and seeds company Syngenta by way of a public tender offer.

ChemChina and Syngenta have reached the acquisition agreement in which the Board of Directors of Syngenta AG (Syngenta or the Company) unanimously recommends ChemChinas offer to purchase 100% of Syngentas equity. The offer price is USD 465 per share in cash. In addition, the offer will allow the payment of a special dividend of CHF 5 payable immediately before closing, subject to the approval of Syngentas shareholders. The intended offer values Syngentas total outstanding share capital at USD 43 billion. The acquisition is subject to anti-trust reviews and approvals from relevant countries.

Syngenta - a world leader in agrochemicals and a leading global player in seeds - is at the forefront of delivering on the sustainability and enhancement of food security in an increasingly interconnected global production chain through its commercial offers, The Good Growth Plan and the Syngenta Foundation for Sustainable Agriculture. ChemChina is committed to supporting Syngenta to further pursue these goals.

ChemChina is fully supportive of Syngentas intactness in its operations, management and employees, including keeping its headquarters in Basel, Switzerland.‎ ChemChina will further maintain, promote and enhance Syngentas exemplary reputation by continuing to invest in its leading agricultural solutions and innovation capabilities. ‎ChemChina will accelerate the implementation of Syngentas strategy while seeking to open new markets and opportunities for Syngentas next phase of growth and plans to relist Syngenta in a few years.

ChemChina is the ideal partner to accelerate Syngentas next phase of development in China and other emerging markets. In these markets, Syngentas seeds and crop protection products can enable farmers around the world to make better use of available resources to meet the growing demands of consumers globally.

Ren Jianxin, Chairman of ChemChina, stated: We are delighted that our friendly and cooperative principle has led to the agreement announced today. We will continue to work alongside the management and employees of Syngenta to maintain the companys leading competitive edge in the global agricultural technology field. He also added: Our vision is not confined to our mutual interests, but will also respond to and maximize the interests of farmers and consumers around the world. We look forward to Michel Demaré remaining as Vice Chairman of Syngenta and lead independent director, and look forward to working with John Ramsay and the management and employees of Syngenta to deliver safe and reliable solutions for the continued growth in global food demand.

Michel Demaré, Chairman of Syngenta stated: In making this offer, ChemChina is recognizing the quality and potential of Syngentas business. This includes industry-leading R&D and manufacturing and the quality of our people worldwide. The transaction will enable growth in China and globally and the long term investment in innovation which is vital to global food security, while minimizing operational disruption and execution risk. Syngenta will remain Syngenta and will continue to be headquartered in Switzerland, reflecting this countrys attractiveness as a corporate location.

John Ramsay, CEO of Syngenta stated: Syngenta is a world leader in crop protection, and this deal will enable us to maintain and expand this position, while at the same time significantly increasing the potential for our seeds business. It will best ensure continuing choice for growers and ongoing R&D investment across technology platforms and across crops. Our commitment to cost and capital efficiency will remain unchanged. HSBC and China CITIC Bank International are acting as financial advisers of this transaction. Simpson Thacher & Bartlett (STB) and Homburger served as legal advisors. Syngenta is one of the worlds leading companies with 28,000 people in over 90 countries dedicated to our purpose: Bring plant potential to life. Through world class science, global reach and commitment to our customers Syngenta helps to increase crop productivity, protect the environment and improve health and quality of life. For more information, please go to www.syngenta.com.

ChemChina, which is headquartered in Beijing, China, possesses production, R&D bases and marketing systems in 150 countries and regions. It is the largest chemical corporation in China, and occupies the 265th position among the Fortune 500. The companys main businesses include materials science, life science, high-end manufacturing and basic chemicals, among others. Previously, ChemChina has successfully acquired 9 leading industrial companies in France, United Kingdom, Israel, Italy and Germany, etc.