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ChemChina-Syngenta deal wins Chinese regulatory approval
April 12, 2017 / 12:15 PM / 8 months ago

ChemChina-Syngenta deal wins Chinese regulatory approval

ZURICH, April 12 (Reuters) - China’s Ministry of Commerce (MOFCOM) has approved ChemChina’s $43 billion planned takeover of Swiss pesticides and seeds group Syngenta, the two companies said on Wednesday.

“This represents a further step towards the closing of the transaction, which is expected to take place in the second quarter of 2017,” the partners said in a statement on Wednesday.

The approval by Chinese authorities comes a week after the deal won conditional U.S. and EU anti-trust approval and a day after Mexico’s anti-trust commission said its approval would be conditioned on Syngenta divesting five specific products. (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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