EU set to approve ChemChina's US$43b bid for Syngenta

[BRUSSELS] EU antitrust regulators are set to approve ChemChina's US$43 billion bid for Swiss pesticides and seeds group Syngenta after the Chinese company agreed to sell some products, two people familiar with the matter said on Thursday.

The deal is the largest foreign acquisition ever by a Chinese company.

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 to allay the European Commission's concerns, one of the people said.

The products are generally from ChemChina unit and Israeli crop protection company Adama while a few are from Syngenta, the person said. No plants, facilities or personnel are involved.

REUTERS