The Chinese Ministry of Commerce has approved ChemChina’s US$43 billion takeover of Syngenta, a global agricultural company focused on food security. The takeover was announced in February 2016, following much speculation on its likelihood.
"This represents a further step towards the closing of the transaction, which is expected to take place in the second quarter of 2017," the partners read in a statement this week.
The acquisition has already received numerous approvals, including assent from the EU and US competition authorities. Mexico’s antitrust commission has stated its approval was dependent upon Syngenta divesting five specific products, reported St Louis Post-Dispatch.
The deal now awaits approval from India.
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