BRUSSELS, April 5 (Reuters) - EU antitrust regulators approved on Wednesday ChemChina’s $43 billion bid for Swiss pesticides and seeds group Syngenta after the Chinese company agreed to sell assets to address competition concerns
The deal, the largest foreign acquisition by a Chinese company, will help China boost its potential food output. Reuters reported on Feb. 2 that the deal would be cleared with conditions.
The European Commission said the asset sales addressed competition concerns.
“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,” European Competition Commissioner Margrethe Vestager said in a statement. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)