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Sinochem, Halcyon Agri, GMG Global in dual takeover transaction

Singapore

SINGAPORE-LISTED Halcyon Agri is set to become the world's largest natural rubber supply chain manager under a deal which would see China's oil and chemicals conglomerate Sinochem International Corp become its largest shareholder.

Following a general offer by Sinochem for Halcyon, the latter will offer to acquire GMG Global - also a Singapore-listed firm in which Sinochem holds a 51.1 per cent stake - through a share swap of 0.9333 Halcyon share for each GMG Global share.

The multi-part deal, which will see the China giant and Halcyon combining their natural rubber assets, was announced on Monday morning, confirming market rumours that have been going round since January.

Still, the 75...

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