Syngenta says Mexican remedies for ChemChina deal will not have major impact

4/12/2017 Reuters

A Syngenta logo is pictured in their office in Singapore
A Syngenta logo is pictured in their office in Singapore, February 12, 2016. REUTERS/Edgar Su/File Photo

Swiss pesticides and seeds group Syngenta AG (SYNN.S) 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.

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