Agriculture
US gives green light for Syngenta ChemChina transaction─── 15:14 Thu, 06 Apr 2017
Basel, Switzerland - The Swiss agribusiness Syngenta has announced it is one step closer to closing a transaction for the proposed acquisition of Syngenta by ChemChina.
Syngenta is a major seed production and chemical player in the global agriculture sector.
It said in a statement the US Federal Trade Commission this week gave its approval for the transaction. Syngenta says this represents a major step towards closing the transaction, which is expected to take place in the second quarter of 2017.
Meanwhile, Reuters reports that the European Union has given conditional antitrust approval for the transaction, which will be worth $43 billion, or about R593 billion.
It is reported as being the largest foreign acquisition by a Chinese company.
- OFM News
