Adama Acquires Chinese Chemicals Companies For $623M

October 5, 2014 | The agrochemicals company Adama Agricultural Solutions announced that it will be acquiring Chinese businesses for $300 million and assume an additional $323 million in debt. According to a party interest deal between the China National Agrochemcial Cooperation, the China National Chemical Corporation (ChemChina) and Adama’s parent company, the companies will be sold to Adama and are expected to raise its revenue to approx. $4 billion annually. In addition, the sale will give Adama a major stake in the Chinese market. The company hopes to finalize the deal in the first half of 2015. Adama Agricultural Solutions is the product of a merger between Israeli companies Agan Chemical Manufacturers and Makteshim Chemical Works in the 1990s.