FLORENCE, Italy Oct 14 Chinese state-owned
chemical company ChemChina and Swiss pesticides and seeds group
Syngenta are prepared to offer concessions to EU
antitrust regulators to ease concerns over their $43 billion
deal, a person familiar with the matter said on Friday.
The companies will meet European Commission officials on
Monday in a meeting called by the EU competition authority,
indicating worries about China's largest-ever foreign investment
and the impact on consumers and rivals in Europe.
ChemChina (China National Chemicals Corp) and Syngenta hope
to remove concerns but are willing to propose concessions if
they cannot convince the regulator in order to get the deal
approved during the Commission's preliminary review, the person
said, declining to provide details.
Commission spokesman Ricardo Cardoso declined to comment.
Such a proposal would trigger a 10-working day extension to the
Commission's deadline of Oct. 28.
The EU enforcer can demand more concessions if it feels the
proposal is not sufficient or it can open a full-scale
investigation that can take as long as five months.
(Reporting by Foo Yun Chee; editing by Alastair Macdonald and