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ChinaChem Adds Another Investor in its Proposal to Acquire Syngenta
USAgNet - 06/21/2016

A high-profile agriculture deal faces a lengthier regulatory review after China National Chemical Corp. detailed changes to the structure of its planned $43 billion purchase of Syngenta AG. China National Chemical Corp., or ChemChina, said it has secured a $5 billion investment from an arm of Citic Ltd., one of China's largest state-owned conglomerates, to help fund the purchase of the Swiss seed and pesticide maker.

According to Dow Jones News, the planned deal would rank as the biggest-ever foreign acquisition by a Chinese company and would supercharge China's effort to develop its domestic seed industry.

It is one of several mergers either agreed or under discussion that would reshape the $100 billion global crop seed and pesticide sector, after three straight years of declining prices for major crops have pressured profits and forced companies to scale back staff and research.

The ChemChina-Syngenta deal faces close scrutiny by regulators around the world, including the U.S. Committee on Foreign Investment, which reviews deals for national security concerns. The Treasury-led body includes representatives from 16 U.S. departments and agencies, and can recommend that the president block transactions that pose security risks. Farm-state lawmakers have called for a deep review of the deal, to evaluate any long-term risks to the U.S. food supply.

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