The Committee on foreign investment U.S. (CFIUS) on Monday approved the transaction on purchase by a Chinese state-owned chemical company China National Chemical Corporation (CNCC, ChemChina), the Swiss chemical company Syngenta AG, said in a joint release from the companies.
“ChemChina and Syngenta announced today that the company received approval for their proposed transaction from CFIUS”, – stated in the message.
The company noted that the closing of the transaction, they must obtain the approval of many regulatory bodies around the world.
In February of this year, ChemChina made an offer for the acquisition of Syngenta at a price of $465 per ordinary share. Thus, the offer value the company at more than $43 billion.
Syngenta is one of the world’s leading agricultural companies. The company, which operates in 90 countries, is 28 per thousand people.
ChemChina is the largest state-owned chemical company China. Specializiruetsya in the production of agrochemicals, rubber products, chemical materials and substances, industrial equipment, and petrochemical processing.