Upon signing of a series of the agreements, Sinochem International (SSE:600500) closed the acquisitions of Monsanto Company (NYSE: MON)’s part of the pesticide business in Philippines, Thiland, India, Pakistan, Bangladesh and Taiwan on February 29.

This is the first significant international acquisition in the history of Sinochem International, a daring effort to expand its operations overseas.

Since the signing of the asset assignment agreement with Monsanto on January 21, Sinochem International had spared no efforts to complete the transaction. The acquisition team went back and forth between 6 Asian countries within 39 days, solved a number of technical and legal issues through 5 rounds of negotiations, completed 50 legal documents involving assets, technology, supply and arrangements in transitional period and set up 4 branches to take over the assets. Having hardly ceased working during the Spring Festival in order to push all the legal and approval procedures forward, the team completed the ownership transfer at the end of February, earlier than expected.

The closure of the of the transaction has ensured the smooth transition of the customer resources and marketing channels and will be of great significance for Sinochem International to improve the operational returns of the acquired project.