Mexico OKs $43B ChemChina-Syngenta Deal With Conditions

By Eric Kroh (April 11, 2017, 1:56 PM EDT) -- China National Chemical Corp. and Syngenta AG must find buyers for five Syngenta products for the Chinese state-owned chemical company's $43 billion takeover of the Swiss firm to close in Mexico, the country's competition authority said Tuesday.

Without the divestitures, the transaction would give ChemChina too great a share of the market for pesticides and fungicides in the country, the Comisión Federal de Competencia Económica, or COFECE, said. As originally proposed, the transaction could have led to "a significant reduction of the alternatives that farmers have to protect their crops from different harmful pests," the agency said.

The buyer of the...

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