China's Sinochem International Corp says a unit has offered to buy a 30.1% stake in rubber processing firm Halcyon Agri Corp at 75 cents per share for at least $240 million.
Halcyon Agri and GMG Global, a subsidiary of Sinochem, both requested for trading to be halted on Thursday afternoon pending the release of an announcement. GMG Global was trading at 62 cents when the halt was called.
On Jan 15, Halcyon stated in a filing that it is in discussions with Hong Kong-listed Sinochem regarding a strategic transaction. The potential deal involves the combination of itself and Sinochem's interest in GMG and certain rubber-related assets of Sinochem. It could also see Halcyon ending up being controlled by Sinochem, according to the filing.
In The Edge Singapore cover story “The new rubber barons?” in Issue 713, we reported that Robert Meyer, CEO of Halcyon, aims to build the company into “the Wilmar of rubber”.
He explained that Wilmar is involved in every segment of the palm oil supply chain. Likewise, Halcyon aims to gain a significant presence in every segment of the rubber supply chain, from growing rubber trees to latex production to distribution of rubber to end users like tyres manufacturers.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
Halcyon Agri and GMG Global, a subsidiary of Sinochem, both requested for trading to be halted on Thursday afternoon pending the release of an announcement. GMG Global was trading at 62 cents when the halt was called.
On Jan 15, Halcyon stated in a filing that it is in discussions with Hong Kong-listed Sinochem regarding a strategic transaction. The potential deal involves the combination of itself and Sinochem's interest in GMG and certain rubber-related assets of Sinochem. It could also see Halcyon ending up being controlled by Sinochem, according to the filing.
In The Edge Singapore cover story “The new rubber barons?” in Issue 713, we reported that Robert Meyer, CEO of Halcyon, aims to build the company into “the Wilmar of rubber”.
He explained that Wilmar is involved in every segment of the palm oil supply chain. Likewise, Halcyon aims to gain a significant presence in every segment of the rubber supply chain, from growing rubber trees to latex production to distribution of rubber to end users like tyres manufacturers.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment