Bluestar Group is the largest subsidiary of ChemChina and a company of Fortune 500. China, mainly relied for a long time on import of methionine, a feed additive, because it had no production of methionine in the country. To target this segment Bluestar planned to acquire Adisseo, a French company, mainly involved in the production of methionine.
By 2004, a massive expansion of bird flu generated the opportunity for Bluestar to acquire Adisseo. By 2000, the Bluestar asked Adisseo to incorporate the latter’s technology while Adisseo had no interest towards this change.
Bluestar started negotiations with the parent company of Adisseo, with the help of third parties in the areas of strategy, legal affairs, and accounting, etc. and on October 20, 2005 they reached to a value of €400m for the complete acquisition of Adisseo. By Jan. 17, 2006, this acquisition got completed. This largest acquisition in history by a Chinese company of a French company made the president of Bluestar, Ren Jianxin, too glad. Afterward, it required the president to integrate the Adisseo in an effective way that could rapidly grow the company.
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