ChemChina seals Syngenta merger with EU approval

Business & Technology

Top business and technology news for April 6, 2017. Part of the daily SupChina news roundup "Xi comes to Mar-a-Lago with ‘tweetable deliverables.’"

People use an escalator outside the headquarters of ChemChina (China National Chemical Corporation) in Beijing, China, February 4, 2005. REUTERS/Stringer/File Photo

This week, the EU approved the bid of China National Chemical Corporation (ChemChina) to buy Swiss agriculture chemical company Syngenta for $43 billion. The deal took more than a year to gain approval in the U.S. — first from the Committee on Foreign Investment last August, and then from the United States Federal Trade Commission on Tuesday. The New York Times notes (paywall) that the high-profile merger is one of three being negotiated in the global chemical agriculture business that may soon significantly impact the way seeds are developed and crops are harvested worldwide, and that ChemChina’s acquisition of Syngenta is a step forward for China to secure the sustainability of its food supply.