Sinochem

China Approves ChemChina and Sinochem merger

The Chinese government has approved the merger of state-owned enterprises ChemChina and Sinochem. The State-owned Assets Supervision and Administration Commission (Sasac) gave its approval on Mar. 31, stating that the companies will undergo a joint restructuring and become subsidiaries of a new and yet-to-be-named holding company. A timetable for the restructuring has not been disclosed.

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