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EU: ChemChina takeover of Syngenta nears approval

 |  March 5, 2017

Following Syngenta and ChemChina making minor concessions to EU regulators recently, reports say the US$43 billion merger is on track to be approved in Europe.

The two agricultural giants made small concessions to allay concerns that this deal could hamper competition in the European market.

The deal has already been given the green light from a US national security panel, which removed a significant hurdle as critics had expressed concerns about a Chinese state-owned company becoming a major player in the US food chain.

It has also received the backing from Australian regulators, but is still being investigated by the European Commission amid concerns a merger could reduce competition in the market and impact on costs for farmers.

The Commission’s preliminary concern is that Syngenta and ChemChina each have strong partially overlapping portfolios of crops protection products such as herbicides, insecticides, fungicides and plant growth regulators.

Full Content: Financial Times

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