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MAI-ChemChina deal received all approvals from the Chinese authorities
May. 9, 2011
Further to the Immediate Reports dated January 9, 2011, January 20, 2011, March 30, 2011, April 7 2011 and May 5, 2011 concerning the merger agreement dated January 8, 2011 between a subsidiary of the China National Chemical Corporation (“ChemChina”), Koor Industries Ltd and the Company (“the Agreement”), the Company reports as follows:
ChemChina informed the Company on May 6, 2011 that it had also received the approval of the State Administration of Foreign Exchange of China (“SAFE”).
This concludes the required approvals from the Chinese authorities for the transaction.
Source: Makhteshim Agan news release
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