2024.03.22
China National Seed Group Co., Ltd. (“China Seed”), a wholly-owned subsidiary of Syngenta Group China, successfully acquired 51% equity interests in Shanxi Dafeng Seed Industry Co., Ltd. (“Dafeng Seed”), thereby becoming the controlling shareholder of Dafeng Seed, while Syngenta Group China signed a strategic cooperation agreement with Shanxi Agricultural University.
China Seed is a national seed company and was established with the former Seed Bureau of the Ministry of Agriculture and Forestry. It has the approval of the State Council, is a leading agricultural industrialization company and a national crop seed producer. As an invested company of Shanxi Agricultural University, Dafeng Seed is a modernized agricultural technology company.
By entering into a strategic cooperation agreement, Syngenta Group China and Shanxi Agricultural University will cooperate with each other in key areas such as integrated regional development, the application of agricultural science and technology and the development of the seed industry.
JunHe participated in the entire process of the equity purchase transaction as the counsel of China Seed. Dafeng Seed is a long established company with a complicated corporate background that involves both non-state-owned and state-owned shareholders. The due diligence investigations and transaction documents were complicated. JunHe issued due diligence investigation reports on behalf of China Seed and had in-depth discussions with the parties on the material legal issues covered in the report. During the drafting, revision and negotiation of the transaction documents, JunHe fully coordinated and communicated with the parties regarding the transaction structure and the specific agreement terms and revised the transaction documents accordingly. JunHe also provided full support for the closing of the project.
