EU Launches Probe Into ChemChina’s Plan To Buy Syngenta
Nov. 4, 2016
The investigation seeks to determine whether the merger will mean higher prices or reduced choices for farmers.
Investigators from the European Commission, the EU’s executive arm, have set out to determine whether ChemChina’s bid for SyngentaAG will mean higher prices and reduced choices for farmers, according to an article from The Wall Street Journal. Syngenta reportedly sells about one fifth of the world’s pesticides while ChemChina markets generic alternatives.
According to the article, Syngenta and Adama Agricultural Solutions Ltd., an Israeli maker of generic pesticides controlled by ChemChina, have “strong overlapping portfolios” of crop protection products. The proposed merger would reportedly consolidate even further an already fairly concentrated industry. EU officials expect to complete their review by March 15, 2017.
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