ChemChina Syngenta acquisition moves closer

A $20.2bn non-recourse bridge loan backing ChemChina $44.89bn acquisition of Swiss seeds and pesticides company Syngenta is set to sign by April 8.

The deal is the largest foreign acquistion by a Chinese company but has been questioned by some US senators including Debbie Stabenow, Chuck Grassley, Sherrod Brown and Joni Ernst because of potential effects on US national security and the American food system.

The senators have called for a review by The Committee on Foreign Investment in the United States (CFIUS) and suggests that both the USDA and the FDA be included in this review.  

The letter goes on to state: "While this Committee has not reached any conclusions regarding the proposed purchase of Syngenta by ChemChina, we believe that any foreign acquisition of an important U.S. agricultural asset should be reviewed closely for potential risks to our food system." 

ChemChina and Syngenta have agreed to the review, meaning it could be several months be any deal goes through.

The proposed buy-out means that Syngenta's flower seed division will no longer be sold off.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

Is a post-Brexit seasonal worker scheme now impossible?

Is a post-Brexit seasonal worker scheme now impossible?

The UK fresh-produce sector has reacted with dismay at the latest developments in the ongoing debate, largely conducted out of public view, on whether UK horticulture will still have access to seasonal migrant workers when the UK leaves the EU in 18 months' time.

Can UK fresh produce come out of Brexit ahead?

Can UK fresh produce come out of Brexit ahead?

UK production horticulture can become more profitable under one possible Brexit scenario, while other more drastic scenarios will lead to only minor losses in profitability, a new report argues.

Business Planning - Staff are your greatest asset

Business Planning - Staff are your greatest asset

An effective strategy to retain staff is the best way for any business to avoid a potential recruitment crisis, Neville Stein advises.

Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs
More Horticulture Jobs

Pest & Disease Tracker bulletin 

The latest pest and disease alerts, how to treat them, plus EAMU updates, sent direct to your inbox.

Sign up here

Professor Geoffrey Dixon

GreenGene International chair Geoff Dixon on the business of fresh produce production

Read Professor Geoffrey Dixon