Bethel Finance news:
Makhteshim Agan Industries Ltd. (TASE: MAIN) today announced that, on Friday, the State Administration of Foreign Exchange of China approved the acquisition of the company by China National Agrochemical Corporation (ChemChina). This was the last Chinese regulatory approval needed for the deal, after the Ministry of Commerce and the National Development and Reform Commission of China approved the deal last Thursday.
When the $2.4 billion (at NIS 19.93 per share) deal is closed, ChemChina will own 60% of Makhteshim, and Nochi Dankner-controlled IDB Holding Corp. Ltd. (TASE:IDBH) unit Koor Industries Ltd. (TASE:KOR) will own 40%.
Makhteshim's share price rose another 1.2% in morning trading today to NIS 18.72, giving a market cap of NIS 8.05 billion, after rising 2.9% on Thursday.
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