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Halcyon Agri halts trading on rumours of takeover (Amended)

Tuesday, January 12, 2016 - 16:29

TRADING in shares for Halcyon Agri has been halted on rumours that rubber processor Halcyon Agri would be acquired by China state-owned firm Sinochem Group.

Sinochem also owns a controlling stake in GMG Global, which is said to be among the assets that will be injected into Halcyon as part of the deal.

Halcyon Agri declined to comment.

An industry veteran contacted by BT said that the rumours first surfaced in the market about two months ago.

Halcyon had said in September last year it was in "confidential discussions with certain parties regarding a potential strategic transaction", in response to a query by the exchange on unusual trading activity. It said the same when queried again in November, and reiterated that discussions were still ongoing.

The article above has been revised to reflect that GMG Global is not on a trading halt.