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Sunday, January 9, 2011

ChemChina signs deal to buy 60 pct of MA Industries, (MAIN), (KOR)

China National Chemical Corp (ChemChina) has now signed the deal to buy 60 percent of Israel's MA Industries (MAIN.TA), it was announced on Sunday, China's latest move to expand in the global agricultural chemicals market. The deal, which values the world's biggest maker of generic crop protection chemicals at $2.4 billion, will see MA's parent Koor Industries (KOR.TA) retain 40 percent of the maker of fungicides, pesticides and herbicides, Koor said on Sunday. The companies had said on Dec. 28 that a sale had been agreed and the deal would be signed within two weeks. [ID:nLDE6BR06F]