HSBC's Asia bet pays off in fee windfall from ChemChina deal
London
HSBC Holdings plc bet on the dark horse in the global race to create an agrochemicals giant and won.
As the lead adviser to China National Chemical Corp on its US$43 billion acquisition of Swiss pesticide and seeds maker Syngenta AG, HSBC will get the biggest cut of as much as US$95 million in fees, according to estimates from consultants Freeman & Co. The deal is the largest-ever acquisition by a Chinese firm and will be HSBC's biggest advisory mandate.
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