ZURICH, April 12 Swiss pesticides and seeds
group Syngenta AG said Mexican regulatory conditions
for approving ChemChina's planned $43 billion
takeover bid will not have a major impact on the business.
Mexico's antitrust commission COFECE approved the deal on
Tuesday on condition that Syngenta divests five products,
without naming them, in order to avoid risks to competition.
If the deal were carried out as originally planned by the
firms, free competition would be placed at risk in certain
herbicide and fungicide markets, COFECE said.
A Syngenta spokesman said the regulator's remarks were in
line with the company's announcement on Monday that COFECE had
approved the proposed acquisition by ChemChina.
"This approval included remedies, which are not material to
our business," he said in an email.
The deal is one of several reshaping the agricultural
chemicals and seeds market, even as these deals trigger fears
among some farmers that bigger, more powerful suppliers could be
better placed to push up prices and economise on developing new
herbicides and pesticides.
Syngenta expects the deal to close in the second quarter of
U.S. antitrust authorities have nodded the deal through on
Tuesday on condition ChemChina divests three products, while the
European Commission said planned asset sales would address its
(Reporting by Oliver Hirt and Michael Shields, editing by