EU regulator approves Makhteshim-ChemChina merger

Date:10-05-2011

Agrochemicals producer Makhteshim Agan Industries Ltd. has obtained EU European Antitrust Commission approval for its acquisition by China National Chemical Corporation (ChemChina). This was the final authorization required for the deal.

Makhteshim added that the deal would be closed on October 17-18, at which point it will no longer be traded on the TASE.

Makhteshim's share price rose 3.7% by mid-afternoon on the TASE today to NIS 21.18, giving a market cap of NIS 8.8 billion.