ChemChina's takeover of agriculture giant Syngenta gets EU nod

London

THE Chinese government wants to make sure its food supply is reliable and safe as it works to feed a rapidly growing middle class. So it was a coup on Wednesday when a Chinese company won approval to take over one of the world's largest suppliers of seeds and pesticides.

By clearing the deal with European Union (EU) regulators, China National Chemical Corp is close to the US$43 billion takeover of Syngenta, the Swiss farm chemical and seed company. It would be the largest Chinese takeover of a foreign company and is one of three proposed mergers in a stop-and-go international race seeking greater influence over the world's food supply.