The China National Chemical Corp, or ChemChina, has won US antitrust approval to buy Switzerland’s Syngenta AG on condition that it divest three products, the Federal Trade Commission said on Tuesday. According to Reuters, the $43 billion deal, which was announced in February 2016, was prompted by China’s desire to use Syngenta’s portfolio of top-tier chemicals and patent-protected seeds to improve domestic agricultural output. To win approval from US antitrust enforcers, the companies agreed to divest ChemChina’s generic production of the herbicide paraquat, the insecticide abamectin used for citrus and tree nuts and the fungicide chlorothalonil, used for peanut and potato crops. Syngenta owns the branded versions of the three products while ChemChina’s subsidiary ADAMA sells generic versions to US farmers. ChemChina has agreed to sell the generic businesses to AMVAC, a California-based company.
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