Banks reap reward from China's takeover of seeds firm Syngenta

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Some of the City’s largest banks and one of New York’s smallest boutique finance firms are set to share as much as $175 million (£134 million) off the back of China’s biggest-ever overseas deal.

US security regulators gave the nod for ChemChina’s $44 billion takeover of Switzerland’s seeds and pesticides firm Syngenta.

This means a payday is approaching for the roster of advisers on both sides of the deal.

ChemChina signed up HSBC as lead adviser, as well as China CITIC Bank International, who are set to share fees that analysts believe could be as high as $100 million. It’s a pay-off for HSBC’s move to prioritise its growth in Asia.

Syngenta was advised by JPMorgan, Goldman Sachs, UBS and Dyalco, the one-man band set up by the formerly London-based Goldman Sachs investment banking co-chairman, Gordon Dyal. 

Syngenta is expected to stump up more than $75 million, with the lion’s share going to lead advisers Dyalco and JPMorgan.

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August 22, 2016 |
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