US nod for ChemChina-Syngenta deal

ChemChina and Syngenta receive clearance from the Committee on Foreign Investment in the United States (CFIUS)

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China National Chemical Corporation (ChemChina) and Syngenta has announced that the companies have received clearance on their proposed transaction from the Committee on Foreign Investment in the United States (CFIUS).

In addition to CFIUS clearance, the closing of the transaction is subject to anti-trust review by numerous regulators around the world and other customary closing conditions. Both companies are working closely with the regulatory agencies involved and discussions remain constructive.

Also read: Glenmark bags FDA approval for Lidocaine Ointment

The proposed transaction is expected to close by the end of the year.

In February this year, ChemChina agreed to buy Syngenta in a transaction worth $43 billion

 

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