Published: 10:03am, 18 Feb, 2019 Updated: 8:17pm, 18 Feb, 2019
Swiss-based Syngenta wants to quadruple its market share in mainland China just 20 months after it was acquired by state-run China National Chemical Corporation (ChemChina) for $43bn. The deal is the biggest foreign takeover of an Australian company and will give ChemChina's parent company, state-owned Sinopec, control over Australia's largest seed company. Since it was acquired in 2017, it has been working with large state-owned farms and plantation to adopt its advanced crop-growing technology and has been cooperating with Israeli-based Adama Agricultural Solutions. It also seeks to consolidate China's disintegrated seed industry with has 15,000 firms.