ChemChina is set to secure conditional EU antitrust approval for its $43 billion bid for Swiss pesticides and seeds group Syngenta, the largest foreign acquisition by a Chinese company, two people familiar with the matter told Reuters. The Chinese state-owned company has agreed to minor concessions to allay the European Commission’s concerns over its takeover of the world’s largest pesticides maker. Regulators had been worried that the deal may lead to higher prices and fewer choices for farmers. ChemChina will divest a couple of national product registrations, including existing products and a few in the pipeline, in more than a dozen EU countries, one of the people said. Syngenta’s portfolio of top-tier chemicals and patent-protected seeds would boost China’s crop potential output and maintain food security.
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