China: JT&N Represents China Exim Bank in Financing of CNAC USD1.4 Billion Purchase of ADAMA Agricultural Solutions Ltd.
In Nov, 2016, The Export-Import Bank of China (China Exim Bank), a state bank solely owned by the Chinese government and under the direct leadership of the State Council, provided a loan in the amount of USD1.89 billion to China National Agrochemical Corp. (CNAC) for the purpose of acquiring a 60% stake in ADAMA Agricultural Solutions Ltd. (ADAMA), the leading Israeli manufacturer and distributor of crop protection products including herbicides, insecticides and fungicides, and one of the world's leading crop protection companies.
The law firm of Jincheng Tongda & Neal (JT&N) acted as the counsel to China Exim Bank, providing key legal advice on the cross-border transaction structure involving Singapore, Israel, UK and China, as well as transaction documentation and related legal risks and requirements. The JT&N deal team was led by Beijing-based Partner Chelsea Li, with support by her team and the lawyers from Israel, Singapore and UK, among others.
CNAC is a wholly-owned subsidiary of China National Chemical Corporation, and is the largest pesticide production and sales in China, and the fifth largest in the world.
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