Makhteshim Sold to ChemChina at a Value of 2.4$ Billion (28.12.2010)
"For me, this deal opens the door to more transactions in China," IDB Holding Corp. Ltd. (TASE:IDBH) chairman Nochi Dankner told "Globes", following the sale of agrochemicals company Makhteshim Agan Industries Ltd. (TASE:MAIN) to China National Chemical Corporation (ChemChina) at NIS 20 per share, reflecting a company value of $2.4 billion.
He added, "The negotiations were tough and challenging, and required great stamina and patience from us. I wondered at the Chinese's conduct during the negotiations, because even when there were remarks about the lack of commercial agreement, it was said in a respectable and warmhearted way, with good chemistry and marvelous personal relations. We created a partnership."