Sector News

ChemChina seeks EU okay for Syngenta deal

September 27, 2016
Chemical Value Chain

China National Chemical Corp (ChemChina) has sought antitrust approval for its $43 billion bid for Swiss pesticides and seeds group Syngenta from the European Union and a decision is expected by Oct. 28.

State-owned ChemChina filed its request on Sept. 23, the European Commission’s website showed on Monday.

The EU competition enforcer can either clear the deal, with or without concessions, or it can open a full investigation if it has serious concerns that ChemChina’s takeover of the world’s largest pesticides maker could harm customers and rivals.

ChemChina cleared one of the biggest hurdles last month when a U.S. national security panel approved what would be the largest foreign acquisition by a Chinese company.

The deal is one of several in the agrochemicals sector, including the planned $130 billion merger of Dow Chemical and DuPont, Bayer’s $66 billion bid for Monsanto and Potash Corp of Saskatchewan’s proposed merger with Agrium.

By Foo Yun Chee

Source: Reuters

comments closed

Related News

February 4, 2023

Eastman acquires performance films company Ai-Red Technology

Chemical Value Chain

Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.

February 4, 2023

BASF and StePac partner on chemical recycling MAP packs to fight food waste

Chemical Value Chain

BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.

February 4, 2023

TotalEnergies and Intraplás partner on food-grade renewable biopolymer production

Chemical Value Chain

TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.

How can we help you?

We're easy to reach