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ChemChina changes in financing Syngenta acquisition

ChemChina has revealed changes to its financing plan to purchase Syngenta AG which will lengthen the regulatory review process.

The Chinese company reportedly has secured a five-Billion-dollar investment from Citic Limited, one of China’s largest state-owned companies, to help fund the Syngenta acquisition. ChemChina said in a statement that would mean it would need fewer loans to finance the $43-Billion purchase of the Swiss seed and ag chemical company.

The proposed acquisition faces a detailed review in the U.S. and warnings from ag-state lawmakers who say the impact of such a deal must be fully considered.

Reports say the deal is still on track to be completed by the end of the year.