Syngenta-ChemChina transaction expected to close Q2 2017

Syngenta has published its annual figures, showing a slight decrease in sales in 2016 compared to the year before. Commenting on the takeover by ChemChina, Syngenta reports:

"ChemChina and Syngenta have made significant progress towards achieving the necessary regulatory approvals and closing the transaction. To date approvals have been achieved from 13 regulatory authorities; approvals are still awaited from Brazil, Canada, China, the EU, India, Mexico and the United States. National security clearance has been granted by CFIUS in the United States.

"In the context of the EU anti-trust review, on 3 January 2017 ChemChina and Syngenta requested a further 10 day extension of the review period until 12 April 2017. The extension is to allow sufficient time for the process to complete. On 13 January 2017 the companies submitted a formal filing to the FTC in the United States, which also included remedy proposals.

"ChemChina and Syngenta remain fully committed to the transaction and are confident of its closure."

Click here for the full results.