China Rubber Investment Group Co., Ltd. agreed to acquire 36% of stake in Halcyon Agri Corporation Limited (SGX:5VJ) from Sinochem International (Overseas) Pte. Ltd. for approximately $180 million on November 16, 2022. China Hainan is paying $0.315 per share.

As on November 16, 2022, Transaction has been reviewed and approved by the China Hainan Rubber Industry's board of directors. The transaction is subject to approval of China Hainan and Halcyon's Board, China Hainan shareholders, State-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China and anti-trust reviews by the relevant competent authorities. As of December 16, 2022, the transaction is approved by shareholders of China Hainan Rubber Industry Group Co., Ltd. Peng Xuefeng of Dacheng Law Offices acted as legal advisor and Shen Rujun of China International Capital Corporation Limited acted as a financial advisor to China Hainan Rubber Industry Group Co., Ltd.