Singapore's Halcyon Agri says in talks with Sinochem on stake sale

Halcyon Agri

15/01/2016 07:54

SINGAPORE, Jan 15 (Reuters) - Singapore-based rubber company 
Halcyon Agri Corporation Ltd  HALC.SI  said on Friday it was 
talking with Sinochem International Corp  600500.SS  on a 
potential sale of a controlling stake to the Chinese company. 
    Halcyon has also been talking to Sinochem about a possible 
strategic transaction, which could involve the combination of 
the company, Sinochem's interests in GMG Global Ltd  GMGG.SI , 
and certain rubber assets of Sinochem.  urn:newsml:reuters.com:*:nSNZ4CmWJl 
    Singapore-listed GMG Global is a subsidiary of Sinochem 
International, which is part of the Sinochem Group, China's 
fourth-largest oil company. 
    Shares in Halcyon, which has a market capitalisation of $288 
million, shot up nearly 9 percent on Tuesday, before trading was 
halted. Shares in GMG, with a market value of $176 million, 
jumped 10 percent on the day. 
 
 (Reporting by Rujun Shen; Editing by Gopakumar Warrier) 
 ((rujun.shen@thomsonreuters.com; +65-6403-5666; Reuters 
Messaging: rujun.shen.thomsonreuters.com@reuters.net)) 
 
Keywords: HALCYON AGRI M&A/SINOCHEM INTL