Sector News

ChemChina says not considering bids for Monsanto’s herbicide business, Syngenta

May 22, 2015
Chemical Value Chain
(Reuters) – State-owned China National Chemical Corp, better known as ChemChina, is not considering bidding for Monsanto’s herbicide business or for Swiss crop chemicals maker Syngenta, a top ChemChina executive told Reuters on Friday.
 
“There have been some market speculations on this about ChemChina…but it’s not us. We are not in contacts with (these) companies,” said Robert Lu, ChemChina’s VP in charge of overseas acquisitions.
 
Banking sources have previously told Reuters that ChemChina could be among the potential buyers for some of the assets that may be sold to overcome antitrust issues arising from Monsanto’s planned acquisition of Syngenta.
 
ChemChina is currently in the middle of acquiring the 143-year-old Italian tyre maker Pirelli in a 7.3 billion-euro ($8 billion) deal. (Reporting by Aizhu Chen; Writing by Denny Thomas; Editing by Muralikumar Anantharaman)

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