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.