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ChemChina exceeds 98% of Syngenta's capital

China National Chemical Corp. completed its takeover of Swiss company Syngenta AG, acquiring 98% of the latter's shares, Syngenta announced July 13.

China National Chemical, known as ChemChina, filed a petition with Basel Appellate Court to cancel the remaining Syngenta shares that are not held by ChemChina or any of its affiliates. It will pay an offer price of $465 per share to the holders of those shares once the court proceedings are complete.

It will also apply for the delisting from the SIX Swiss Exchange of the acquired company's shares.