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European Commission & FTC on ChemChina/Syngenta
The U.S. Federal Trade Commission has given conditional approval to ChemChina’s acquisition of Syngenta and the European Commission has given its full approval to the deal.
The FTC is requiring ChemChina to divest three of its generic pesticides in its ADAMA U.S. crop subsidiary. Those pesticides are: chlorathalonil, paraquat and abamectin. The FTC will take public comment on the proposed agreement through May 4th.
Syngenta says the FTC and European approvals are major steps towards the closing of the transaction – which it expects to happen in this second quarter of the year.
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