January 10, 2017 / 4:55 AM / 9 months ago

ChemChina, Syngenta submit remedy proposals to EU antitrust watchdog

HONG KONG, Jan 10 (Reuters) - State-owned China National Chemical Corp (ChemChina) and Swiss pesticides and seeds group Syngenta AG on Monday submitted proposed remedies to the European Union’s antitrust watchdog to address concerns over their $43 billion merger.

The European Commission’s website showed the companies had submitted “commitments” on Jan. 9, which typically means the parties have proposed remedies such as asset divestment or product pricing commitments.

The website did not show any further information on the nature of the commitments.

“Details of the remedy proposals are confidential,” a spokesman for ChemChina told Reuters. (Reporting by Michelle Price)

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