SAO PAULO, May 5 (Reuters) - The planned merger of Dow Chemical Co and DuPont received a recommendation for a conditional approval by Cade, Brazil’s antitrust regulator, after a finding that proposed asset sales would be enough to address competitive concerns, the regulator said in an emailed statement on Friday.
Following the review by the office of Cade’s superintendent, the regulator’s board will vote on the $130 billion merger between the U.S. chemical giants, which clinched approval from the European Union in March after they agreed to sell substantial assets.
On Tuesday, China conditionally approved the deal, which is also pending regulatory approval in the United States, Australia and Canada.
In addition to DuPont selling part of its global insecticide and herbicide business and Dow selling its acid co-polymer and ionomers business, the superintendent’s office at Cade said Dow had offered to sell much of its corn seed business in Brazil. (Reporting by Brad Haynes and Alberto Alerigi Jr.; Editing by Phil Berlowitz)