14 June 2012 05:00 [Source: ICIS news]
SINGAPORE (ICIS) – ?xml:namespace>
To complete the deal, Sinochem will buy out Hong Kong Carlyle Sinorgchem Industry, which currently holds a 40% interest in Jiangsu Sinorgchem Technology, Sinochem said in a statement to the Shanghai Stock Exchange.
Sinochem will acquire the remaining stake of around 21% from eight individual shareholders of Jiangsu Sinorgchem Technology, the statement said.
The acquisition will enhance Sinochem’s presence in rubber chemical business and help the company to become a leading provider of rubber products worldwide, it said.
($1 = CNY6.35)
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