Trusted Market and Commodities-Trade Intelligence

 

Think Real News

rss

Think Real press releases and industry coverage


Nanjing Red Sun to acquire a 60% stake in Ruralco

On 30 Jan., 2018, Nanjing Red Sun Co., Ltd. (Nanjing Red Sun) announced its decision to purchase a 60% share in Australian-owned agricultural company Ruralco.

 

Accordingly, Nanjing Red Sun expects to progress this this merger in two phases:

1.          To acquire the 26. 7% stake held by Fernando Diego Gimbatti and other four individual shareholders, at USD8.0 million from its self-owned capital;

2.          To acquire a stake of 33.3% through a capital increase of USD1.5 million into Ruralco.

Upon completion of the acquisitions in two phases, Red Sun will hold some 60% of the shares in Ruralco.

 

“This acquisition is an important step to further penetrate into the terminal market, to extend our sales network in international agricultural market, and more importantly, to increase our global presence,” disclosed Nanjing Red Sun.

 

About Ruralco

 

Founded jointly by FMC and NewCo in 2011, Ruralco has served as FMC’s distributor in Argentina, mainly for agricultural chemicals, including herbicides, insecticides and fungicides, while licensed for sales of cereals, rapeseeds and feed crops. As the joint venture between FMC and NewCo was terminated in 2016, Ruralco derived from FMC some 37 independent clients, as well as the possession of 33 product registrations or authorized use of registrations. In 2016, the company achieved a full-year revenue of *USD29.9 million (vs. USD559.1 million by Nanjing Red Sun), and a net profit of USD0.49 million (vs. 20.0 million by Nanjing Red Sun).

*ARSUSD/USD exchange rate at 19.45 on 5 Feb., 2018, sourced on hexun.com.

 

-ENDS-

NOTES TO EDITORS

 

China Nicosulfuron Export Overlook 2016

China Nicosulfuron product export overlook 2016 provides detailed analysis to identify the target commodities from customs records. The analysis service give a full view of commodities export trade records, provides comprehensive data regarding target products’ export by specifications, month, exporters, manufacturers, destinations, price, etc., helping you make more informed decisions.

 

About Think Real

Think Real is a trusted market & commodities-trade intelligence provider that focuses on providing professional and unbiased global trade data and research, company analysis, latest industry market dynamic and database service to help enterprise clients with strategies issues and business development.

 

For further details, please Contact Us.

 

Related Reports

--------------------------------------------------------------------------------

China Chlorpyrifos Export Overlook 2016

China Acephate Export Overlook 2016

China Fipronil Export Overlook 2016

China Ametryn Export Overlook 2016