In June 2017, China National Chemical Corporation (ChemChina) announced that it has consummated the successful public tender offers to acquire Syngenta. Holders of Syngenta shares received USD 465 per share in cash, and holders of American Depositary Shares (ADSs) received USD 93 per ADS. In addition, a special dividend of CHF 5 per share was paid out to the shareholders by Syngenta.

After the consummation of the offer, ChemChina announced in July 2017 that it has commenced the squeeze-out procedure for the remaining shares. Upon completion of the squeeze-out proceedings, the Syngenta shares will be delisted from the SIX Swiss Exchange.

The transaction was the largest overseas acquisition by a Chinese company, one of the largest all-cash transactions worldwide and the largest public tender offer for a Swiss company in history. Syngenta, which is headquartered in Basel, Switzerland, is a world leader in agrochemicals and a leading global player in seeds. ChemChina, which is based in Beijing, China, is the largest chemical company in China. ChemChina had announced that Syngenta will remain intact in its operations, management and employees and will keep its headquarters in Basel, Switzerland.

Homburger advised ChemChina on the transaction as well as its financing. The Homburger team was led by partner Dieter Gericke (Corporate | M&A) and comprised partners David Oser (Corporate | M&A), Jurg Frick (Financial Services), Reto Heuberger, Dieter Grunblatt (Tax) and Marcel Dietrich (Competition | Regulatory), Micha Fankhauser (Corporate | M&A) as lead associate, as well as associates Daniel Hausermann, Vincent Delaloye, junior associates Sarah Rauber and Sabine Neuhaus (all Corporate | M&A), associates Simone Gloor (Financial Services), Ralf Imstepf (Tax), Richard Stauber and Regina Stukert (Competition | Regulatory). Simpson Thacher & Bartlett advised ChemChina on U.S., Chinese and UK law aspects of the transaction.