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Nanjing Redsun: acquisition of 60% of shares of Ruralco finished

On 29 January 2019, Nanjing Redsun Co., Ltd. (Nanjing Redsun) announced that the acquisition of Ruralco Soluciones S.A. (Ruralco) which started in 2018 had been finished recently. Currently, Nanjing Redsun holds 60% of shares in Ruralco.

 

Here are steps for Nanjing Redsun to carry out this acquisition:

²  Step 1: Used its own funding of USD8 million to acquired 26.7% of shares from 5 natural-person shareholders such as Fernando Diego Gimbatti;

²  Step 2: Used the physical assets valued at USD15 million to increase capital in Ruralco and finally obtained 33.3% of shares.

 

Ruralco is a joint venture established FMC Corporation (FMC) and NewCo in 2011. It is mainly involved in the sales of agricultural chemicals, covering herbicides, insecticides, and fungicides, and meanwhile, is in possession of sales licenses of cereals, oil seeds, and feed purpose crops. In 2016, FMC terminated the cooperation with NewCo, for which Ruralco got 37 exclusive clients from FMC. In addition, it owns a total of 33 product registration certificates or authorizations for the use of registration certificates.


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