China OKs Sanonda/Adama reverse merger
The Chinese competition authority, the China Securities Regulatory Commission (CSRC), has unconditionally approved the combining of Adama Agricultural Solutions with Chinese agrochemical company Sanonda. Both companies are subsidiaries of ChemChina. The enlarged enterprise would operate under the Adama name and brand and be led by Adama’s global management team, with board members added from China. The plans include keeping the headquarters as well as well as global research and development and registration operations in Israel. The transaction is expected to be finalised “in the coming weeks”.