Hebei Lansheng Biotech Co., Ltd.
Beijing Multigrass Formulation Co., Ltd.

Noposion transfer 35% stake of Jiangsu Changlong Chemicals to Rongxin Southern Investment companyqrcode

Jun. 21, 2016

Favorites Print
Forward
Jun. 21, 2016

Noposion announced yesterday it was signing a share transfer agreement with Shenzhen Rongxin Southern Investment Co., Ltd.

Under the agreement, Noposion will transfer its 35% stake  in Jiangsu Changlong Chemicals Co., Ltd. to Rongxin Southern for 236.536 million yuan . Meanwhile, Rongxin Southern will also purchase a 65% stake in Jiangsu’s subsidiary, Changlong Agrochemical Company.

Some weeks ago, Jiangsu was sued by the government because of the pollution it had created on property belonging to a school. The lawsuit dealt a blow to Noposion's plans to sell the company to Nantong Jiangshan Chemical.

Based on this failed transaction and due to the rough market environment, Noposion also decided to weaken its original stake incentives and to abort its new incentive plan altogether. 

 
Source: AgroNews

Picture 0/1200

More from AgroNews

Magazine

2020 Latin America Focus 2020 Biologicals Special
2020 Formulation & Adjuvant Technology Annual Review 2019
Chinese issue of Annual Review 2019 2019 CRO & CRAO Manual
I wanna post a press Comment

Subscribe 

Subscribe Email: *
Name:
Mobile Number:  

Comment  

Picture 0/1200

Subscribe to daily email alerts of AgroNews.