meis
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China is gobbling up major seed businesses to satisfy its growing appetite for food firms.
Two weeks ago, state-owned ChemChina finalized its $44 billion purchase of the Swiss pesticides and seeds giant, Syngenta. It was China's biggest foreign takeover of all time.
On Tuesday, Dow Chemical (DOW) announced that an agriculture fund backed by the Chinese government would pay $1.1 billion for its Brazilian corn seed and research business.
Chinese firms have spent $91 billion over the past decade purchasing nearly 300 foreign companies involved in agriculture, chemicals and food, according to Dealogic.
Why the massive spending spree?
Sources:
http://money.cnn.com/2017/07/13/new...071417china-food-seeds-agriculture0503PMStory
https://www.reuters.com/article/us-dow-divestiture-citic-idUSKBN19W2NS
Two weeks ago, state-owned ChemChina finalized its $44 billion purchase of the Swiss pesticides and seeds giant, Syngenta. It was China's biggest foreign takeover of all time.
On Tuesday, Dow Chemical (DOW) announced that an agriculture fund backed by the Chinese government would pay $1.1 billion for its Brazilian corn seed and research business.
Chinese firms have spent $91 billion over the past decade purchasing nearly 300 foreign companies involved in agriculture, chemicals and food, according to Dealogic.
Why the massive spending spree?
Sources:
http://money.cnn.com/2017/07/13/new...071417china-food-seeds-agriculture0503PMStory
https://www.reuters.com/article/us-dow-divestiture-citic-idUSKBN19W2NS
