Halcyon Agri teams up with Sinochem to create world's largest natural rubber supply chain manager

Halcyon will also acquire a stake in GMG Global.

Mainboard-listed Halcyon Agri and Shanghai-listed Sinochem International revealed that they have inked definitive agreements to merge their natural rubber assets.

The deal will create the world’s leading natural rubber supply chain manager. The businesses will be combined under Halcyon Agri, which will continue to be listed on the SGX.

Sinochem International will acquire a 30.07% shareholding in Halcyon Agri for $0.75 cents per share in cash and make a mandatory general offer (MGO) to all shareholders of Halcyon Agri at the same price.

Following the MGO, Halcyon Agri will make a voluntary general offer for Singapore-listed GMG Global at an exchange ratio of 0.9333 Halcyon Shares for each GMG Global Share.

Sinochem International has undertaken to accept the VGO in respect of its 51.1% shareholding.