China National Chemical and Swiss pesticides and seeds group Syngenta AG have proposed remedies to the European Union’s competition watchdog to address concerns over their $43 billion merger agreement.
The European Commission’s website showed “commitments” submitted on Jan. 9, which typically means the parties have proposed remedies such as asset divestment or specific product pricing. It did not elaborate on the nature of the pair’s commitments.
“Syngenta confirms that remedies related to the deal with ChemChina have been submitted to the EC. We will not comment further on that,” a Syngenta spokesman said. “ChemChina and Syngenta remain fully committed to the transaction and are confident of its closure.”
A spokesman for state-owned ChemChina told Reuters details of the remedy proposals were confidential.
Full Content: Business Insider
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