ChemChina is set to secure conditional EU antitrust approval for its US$43 billion bid for Swiss pesticides and seeds group Syngenta, the largest foreign acquisition by a Chinese company, two people familiar with the matter said on Thursday. The deal is important for China, the world’s largest agricultural market, which is seeking to secure food supplies for its huge population. Syngenta’s portfolio of top-tier chemicals and patent-protected seeds would boost its potential output. The Chinese state-owned company has agreed to minor concessions to allay the European Commission’s concerns over its takeover of the world’s largest pesticides maker.
