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Halcyon pulls off three-way merger, fights to get GMG shareholders on board

Goola Warden Published on Fri, Oct 07, 2016 / 9:19 AM GMT+8

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Robert Meyer, CEO of Halcyon Agri Corp, has just completed the deal of his life and believes he is on his way to realising a long-held vision.

Over the last two months, Meyer has been busy executing a three-way merger between Halcyon, Sinochem International and Singapore-listed GMG Global. The deal has significantly increased Halcyon’s financial heft and geographical coverage, and provided it with a presence across the entire value chain of the rubber industry.

In August, Sinochem acquired a 30% stake in Halcyon and subsequently made a voluntary general offer for the company. Meanwhile, Halcyon acquired Sinochem’s 51% stake in GMG in exchange for 180.4 million new shares. Then, this month, Sinochem injected its global natural rubber business into Halcyon for 280 million new shares. Sinochem’s natural rubber business comprises factories in China, Thailand and Malaysia, and a distribution business in China, where it has a 20% market share.