A PYMNTS Company

EU/US: ChemChina gets EU and US approval for Syngenta $43bn deal

By  |  April 5, 2017

China National Chemical won European Union antitrust approval for its $43 billion takeover of Swiss pesticide maker Syngenta, a day after the US gave its blessing, bringing China’s largest foreign acquisition closer to the finish line.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    ChemChina’s offer to divest some pesticides and other agricultural products will remove “problematic overlaps” and allow the EU to clear the deal, the European Commission said in an emailed statement. EU Competition Commissioner Margrethe Vestager praised the companies for being “prepared to address our concerns” with the concessions, she said at a news conference, as she blocked another deal based on a proposed divestment that fell short.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The US required the companies to divest three types of pesticides as a condition for completing the deal. The companies expect to close the deal by the end of June. The transaction still needs approval from Chinese antitrust authorities.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.