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ZURICH, Jan 5 (Reuters) – ChemChina and Sinochem 600500.SS are consolidating their agricultural property into a brand new holding firm to be known as Syngenta Group, ChemChina unit Syngenta mentioned on Sunday.
Chen Lichtenstein, present president and CEO of Shenzhen-listed crop safety firm ADAMA 000553.SZ, which can even be included into the brand new group, might be nominated CFO of the newly shaped Syngenta Group.
He might be based mostly in Basel, Switzerland, the Swiss group mentioned in an announcement.
Reuters reported final month that China Nationwide Chemical Corp, or ChemChina, had approached Chinese language state-backed traders for as much as $10 billion in funding as a part of a reorganisation of its agrichemicals enterprise forward of a public float.
The reorganisation contains Syngenta, the Swiss pesticide producer that ChemChina agreed in 2016 to purchase for $43 billion.
The fundraising…