ChemChina lifts Syngenta stake to 94.7%

China National Chemical Corp, known as ChemChina, has completed the second settlement of its tender offers for Basel-based Syngenta AG, increasing its stake to 94.7 percent, the group announced on Thursday.

ChemChina plans to delist Syngenta's shares on the Zurich-based SIX Swiss Exchange and the New York Stock Exchange as soon as permitted by law and applicable regulations, the group said in a statement on Thursday.

Shareholders who tendered their shares after May 4 received the consideration of $465 per share, and holders of American Depositary Shares, who tendered them after May 4 received $93 per ADS, on Wednesday.