ChemChina Acquires 12% Stake in Swiss Commodity Trader Mercuria

Bloomberg – China’s largest chemical company acquired a 12 percent stake in Mercuria Energy Group Ltd., giving the Swiss commodity trading house better access to the world’s biggest market for raw materials. Through the investment in Mercuria, “ChemChina will expand further into the energy sector,” China National Chemical Corp. Chairman Ren Jianxin said in an e-mailed statement on Monday. “Mercuria has growth opportunities ahead in China and around the world.” The agreement marks the culmination of talks first reported in October and adds to ChemChina’s western investments that already include Italian tire maker Pirelli & C. SpA. The deal comes as ChemChina enters talks to acquire Swiss pesticide and seeds maker Syngenta AG in what could be the biggest-ever purchase by a Chinese company. The deal will also allow the closely held trading firm’s owners, which include Swiss co-founders and former Goldman Sachs Group Inc. bankers Marco Dunand and Daniel Jaeggi, to monetize a portion of their holdings. The terms of the transaction weren’t disclosed. The ChemChina investment reaffirms Mercuria’s “growth potential,” CEO Dunand said in the joint statement from the two companies. “ChemChina has important expertise and global reach.” Chinese Investments The agreement follows an increase of investments by Chinese state-controlled

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