Hong Kong/Beijing | Reuters — China National Chemical Corp (ChemChina) and Swiss pesticides and seeds group Syngenta have proposed remedies to the European Union’s competition watchdog to address concerns over their US$43 billion merger agreement. The European Commission’s website showed “commitments” submitted on Monday, which typically means the parties have proposed remedies such as asset […] Read more
Tag Archives european commission — page 7
Syngenta, ChemChina submit remedy proposals to EU
EU probe to hold up ChemChina’s acquisition of Syngenta
Brussels | Reuters — European Union antitrust regulators on Friday opened an in-depth investigation into state-owned Chinese chemicals group ChemChina’s US$43 billion bid for Swiss pesticides and seeds group Syngenta, China’s biggest-ever foreign acquisition. Syngenta’s shares plunged over nine per cent on Monday after the European Commission said the companies had not allayed its concerns […] Read more
ChemChina reported ready for concessions to clinch Syngenta deal
Beijing/Zurich | Reuters — State-owned Chinese chemicals group ChemChina is ready to offer more concessions to win European Union antitrust approval for its US$43 billion bid for Swiss pesticide and seed group Syngenta, a source with direct knowledge of the process said. Clinching China’s biggest-ever foreign acquisition is taking longer than planned amid a flurry […] Read more
Syngenta slumps after EU watchdog sparks ChemChina deal doubts
Brussels/Zurich | Reuters — Syngenta shares fell more than nine per cent on Monday after the European Commission triggered doubts about Chinese state-owned chemical company ChemChina’s US$43 billion bid for the Swiss pesticides and seeds group. The companies met with the EU antitrust authority a week ago in a bid to allay competition concerns about […] Read more
ChemChina, Syngenta ready to offer EU remedies over merger
Florence | Reuters — Chinese state-owned chemical company ChemChina and Swiss pesticides and seeds group Syngenta are prepared to offer concessions to EU antitrust regulators to ease concerns over their US$43 billion deal, a person familiar with the matter said Friday. The companies will meet European Commission officials on Monday in a meeting called by […] Read more
German federal, state governments to decide jointly on GM crops
Berlin | Reuters — Germany’s federal and state governments will in future decide together whether to ban the cultivation of crops with genetically modified organisms (GMOs) that are allowed in the European Union, a draft law showed, ending a long dispute. An EU law in March 2015 cleared the way for the approval of new […] Read more
EU’s Juncker seeks to win over Austria on CETA
Strasbourg | Reuters –– European Commission President Jean-Claude Juncker expressed optimism on Wednesday that EU governments would agree a contentious free trade deal this month ahead of a meeting with a skeptical Austrian chancellor. Juncker said the EU needed to ensure that a deal agreed with Canada two years ago entered into force in a […] Read more
EU regulators halt Dow, DuPont merger review to gather data
Brussels | Reuters — European Union antitrust regulators have halted their scrutiny of Dow Chemical and DuPont’s proposed merger while the companies provide more information regarding their US$130 billion deal. The European Commission opened a full investigation into the case in August, concerned that the deal to create the world’s largest integrated crop protection and […] Read more
Austria drops talk of ‘conflict’ over EU-Canada trade deal
Vienna | Reuters — Austria toned down its opposition to a free trade deal between the European Union and Canada on Friday, two days after social democrat Chancellor Christian Kern had vowed to start a “conflict” over the agreement. While the so-called CETA accord is all but sealed, the Austrian leader’s opposition reflects concerns widely […] Read more
Austria expects ‘conflict’ on Canada trade deal
Vienna | Reuters — Austria is ready to confront other European Union members states over its opposition to a free trade deal with Canada, Chancellor Christian Kern said, because it sees it containing many of the same problems as one being negotiated with the U.S. Austria opposes a proposed free trade deal with the United […] Read more
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