Sinochem International Corporation (SHSE:600500) intends to acquire additional 39.88% stake in Jiangsu Yangnong Chemical Group Co., Ltd. from Syngenta Group Co., Ltd. for CNY 7.6 billion in November 2020. Under the terms of transaction, Consideration will be in cash. Sinochem International shall pay 30% of the asset purchase transaction price to Syngenta Group as a security deposit and within 3 working days after all the prerequisites for delivery of this transaction are met, Sinochem International shall pay the entire asset purchase transaction price to Syngenta Group. In a separate transaction, Yangnong Group intends to sell 36.17% stake in Jiangsu Yangnong Chemical Group Co., Ltd. to Syngenta Group Co., Ltd. for CNY 10.2 billion. On September 30, 2020, Jiangsu Yangnong Chemical Group Co., Ltd. reported total assets of CNY 23.257 billion and total owner's equity of CNY 14.244 billion. Asset purchase transactions and asset sales transactions are mutually prerequisites. The transaction has been approved by Board of Directors of Sinochem International. On February 22, 2021, the transaction has been approved by the shareholders of Jiangsu Yangnong Chemical Group Co., Ltd. Shao Nian, Tang Songhua, Wang Yufeng, Zheng Zhe, Jiang Haiyang and Zhu Feng of Huatai United Securities Co., Ltd. acted as financial advisor to Sinochem International Corporation.