Halcyon Agri sells stake in SIAT

HALCYON Agri Corporation Limited has entered into an agreement with Fimave SA/NV to sell its stake in SIAT SA owned by GMG Global Ltd.

The disposal of 9,348 ordinary shares, which represents 35 per cent of the issued and paid-up capital in SIAT SA was completed on Sept 29, 2017.

Halcyon Agri received permission to delist GMG Global, a natural rubber supply chain manager, from the Singapore Exchange in December last year.

The proposed disposal of shares will be made at an aggregate consideration of 192.56 million euros (S$308.23 million).

The aggregate call option price of 5.5 million euros will be paid first, with the balance of 187.06 million euros paid upon completion of the deal.

Halcyon Agri is majority-owned by China's Sinochem International Corp.