Sinochem completes 35% interests acquisition in Belgium’s Siat

20 July 2012 08:33  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinochem International said on Friday that its Singapore-listed, unit GMG Global, had completed the acquisition of a 35% shareholding in Belgian rubber and palm oil company Siat NV on 17 July.

Sinochem International announced its plans for the €193m ($238m) acquisition in April.

Siat NV mainly engages in planting, processing, production and sales of natural rubber and palm oil in Africa.

Sinochem is looking to expand its global presence in the rubber business through the deal, it said in a filing to the Shanghai Stock Exchange.

$1 = €0.81

By: Fanny Zhang
+65 6780 4359

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