Nantong Jiangshan to buy Thai pesticide company
Chinese agrochemical company Nantong Jiangshan Agrochemical and Chemicals is to purchase a 90% stake in Thai pesticide company Ladda Group Holdings. If the proposed Yuan 210 million ($33.4 million at the current rate) transaction is completed, Nantong Jiangshan will provide a further Yuan 24.5 million ($3.9 million) in operating capital to the Thai company, thereby increasing the Chinese company’s share to 91%. The acquisition is still to be ratified by Nantong Jiangshan’s shareholders, as well as relevant departments of the Chinese and Thai governments. Nantong Jiangshan expects the transaction to be completed in the first quarter of 2013.