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ChemChina acquisition of Syngenta approved by European Commission

It follows the approval of a Dow and DuPont merger last week

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ChemChina acquisition of Syngenta approved by EC #clubhectare

The European Commission has approved the proposed acquisition of Syngenta by ChemChina.

 

The approval is on the condition of ChemChina divesting of its European pesticide and plant growth regulator business.

 

The deal has also received approval from the US.

 

It follows the announcement last week (March 27) the EC had approved the Dow and DuPont merger.

 

Competition

 

Commissioner Margrethe Vestager, said: "It is important for European farmers and ultimately consumers that there will be effective competition in pesticide markets, also after ChemChina’s acquisition of Syngenta.

 

“ChemChina has offered significant remedies, which fully address our competition concerns. This has allowed us to approve the transaction."

 

The Commission was concerned by reduced competition in for plant growth regulators and pesticides.

 

Concern

 

NFU director of policy Andrew Clark said: “On the face of it, consolidation of the global pesticide research and manufacture is of concern to farming.

 

“Plant protection is a vital part of modern farm practice assuring safe affordable food reaches consumers in the best condition.

 

“Regulatory tests mean developing new products which allow farmers to meet increasing demand and with less environmental impact is hugely costly. So we urge that increasing scale enables new products to be developed.

 

He added the union would continue to ask competition authorities to closely monitor this key farming category.

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