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Chinese state-owned chemical giant ChemChina announced on June 8 that it has completed a deal to acquire Swiss agribusiness giant Syngenta, reported Xinhua. The US$43 billion acquisition deal is the biggest any Chinese company has completed with an overseas counterpart. It also places ChemChina among the world’s leading agribusiness companies, joining the ranks of Bayer and BASF of Germany and DuPont and Monsanto of the US. ChemChina has purchased 94.7% of Syngenta's shares so far and will push forward the delisting of Syngenta from both Switzerland and the United States, the Beijing-based company told the press. In the future, ChemChina will implement a strategy to make Syngenta go public again with a view to realising long-term development and create greater value, the company said. ChemChina promised to respect Syngenta's corporate culture and maintain “continuity of corporate management”. Syngenta had turned down an acquisition bid of US$47 billion from Monsanto.