A potential merger with Chinese state - owned Sinochem may help debt - ridden chemicals company ChemChina as it looks to complete its $ 43.5bn purchase of Swiss - based chemicals firm Syngenta . they had aggressively backed up assets home and away , including a $ 7.7bn purchase of Italian tyre supplier Pirelli , along with Syngenta , but these bold buys have left it highly leveraged . The merger would create a chemicals , chemicals and oil conglomerate with around $ 100bn in annual revenue . Both firms have so far denied the merger plans .
A potential merger with Chinese state-owned Sinochem may help debt-ridden chemicals company ChemChina as it looks to complete its $43.5bn purchase of Swiss-based seeds firm Syngenta. ChemChina had aggressively bought up assets home and away, including a $7.7bn purchase of Italian tyre maker Pirelli, along with Syngenta, but these bold buys have left it highly leveraged. The merger would create a chemicals, fertiliser and oil conglomerate with around $100bn in annual revenue. Both firms have so far denied the merger plans.