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More Review for Syngenta Deal in Europe?

ChemChina’s planned purchase of Syngenta may have a new hoop to jump through with European regulators.

According to a Reuters story, the European Union recently reviewed a pending deal between a French firm and a state-owned Chinese company and decided that, due to the overall size of all Chinese owned energy companies, that the French acquisition would need to file for merger clearance from the E.U.

The decision could affect the planned $43 billion Syngenta/ChemChina deal, according to the story.

"The level of scrutiny is likely to intensify. This will make filing in EU merger cases trickier if you need detailed corporate information on a large number of SOEs," said Alan Riley, professor at the UK-based Institute for Statecraft, a think tank. "If you think about ChemChina, they may well face a huge demand for information from the commission in relation to at least other bio and agriculture SOEs and then they would have to hope there are not many overlaps."

Regulators in the U.S. are also expected to review the deal for national security concerns.

 

 

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