China Reform said to join Syngenta purchase

China Reform Holdings Corp., an investment firm charged with revamping state-owned enterprises, is in advanced talks to join China National Chemical Corp.’s proposed $43 billion purchase of Syngenta AG, people with knowledge of the matter said.

ChemChina has also been holding discussions with several other investors that could join its acquisition of the Swiss seeds maker, according to one of the people, who asked not to be identified as the information is private. Other Chinese state-backed entities, as well as sovereign funds from Asia and other parts of the world, have expressed interest in taking part in the deal, one person said.

ChemChina agreed earlier this month to buy Basel-based Syngenta in what would be the largest acquisition by a Chinese firm, a deal that will help transform ChemChina into the world’s largest supplier of pesticides and agrochemicals. Chairman Ren Jianxin said Feb. 3 that ChemChina has “so many” offers to help finance the takeover, including from potential equity investors and banks eager to lend for the deal.

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