China National Chemical Corporation (ChemChina) is getting closer to completing its takeover of Swiss pesticide and seed maker, Syngenta, after the company obtained a green signal from India’s competition regulator for the deal.
Approval from the Competition Commission of India (CCI) was the final box that needed ticking for the deal to proceed. State-owned ChemChina announced the US$44 billion acquisition in February 2016. It received approval from US and EU competition authorities in September 2016 and obtained clearance from the Chinese authorities in April 2017.
Agriculture is considered a highly sensitive and politicized sector in India which, according to one legal expert who wished to remain unnamed, could have “led to a more prolonged period of careful deliberation, and required more detailed cooperation with the CCI.”
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