ChemChina's $43 billion planned takeover of Swiss pesticides and seeds group Syngenta gets approval from China's Ministry of Commerce. David Pollard reports.
China gets one vital step closer to its largest acquisition of a foreign company - thanks to its own regulators. Those approving ChemChina's bid for Syngenta. The $43 billion dollar deal for the Swiss pesticides and seeds group now expected to close in Q2 of this year. U.S. and European Union competition authorities gave conditional approval last week and Mexico's anti-trust commission did so this week. India has yet to give its approval. Syngenta shares were up 3 percent on the news - the Swiss firm saying China's approval comes without any conditions.