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China's Hebang buys 51% of Israeli agrichemicals co Stockton

Chinese company Sichuan Hebang Corporpation, listed on the Shanghai Stock Exchange at a $3.6 billion market cap, is acquiring control of private Israeli agrichemicals company Stockton. Hebang will invest $90 million for 51% of Stockton's shares, reflecting a $177 million company value. Hebang, which deals in materials and agrichemicals, is making its first investment outside China. Closing of the deal is expected within 90 days, subject to regulatory approval in China.


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