Home 5 Ag Stories ChemChina-Syngenta Deal Delayed

ChemChina-Syngenta Deal Delayed

Ren Jianxin, chairman of ChemChina, and Michel Demare, chairman of the Board of Directors of Syngenta.

ChemChina and Syngenta were issued an extension by European Union antitrust regulators to comply with the regulator’s request.

The EU has extended the deadline for a decision on ChemChina’s proposed buy of Swiss group Syngenta by ten working days to April 12th, according to Reuters.

Syngenta said in a statement the two companies had asked for the extension to allow “sufficient time for the discussion of remedy proposals”.

The European Commission opened the investigation into state-owned ChemChina’s $43 billion bid in October, saying the companies had not alleviated concerns over the deal.

Syngenta said in a statement the two companies remain “fully committed” to the transaction and are “confident of its closure.”