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The US government committee responsible forclearing or blocking foreign investment into thecountry has approved ChemChina’s $44bn takeover of Swiss agrobusiness company Syngenta.
The Committee on Foreign Investment in the United States cleared the deal on Monday,according to a statement from Syngenta, making way for China’s biggest-ever outboundtransaction d.
The deal would still face scrutiny from other regulatory bodies but clearing the CFIUS review,which has killed other cross-border Chinese deals this year, was seen as the biggest hurdle tocompleting the landmark transaction.
“The closing of the transaction is subject to anti-trust review by numerous regulators aroundthe world and other customary closing conditions,” Syngenta said in a statement. “Bothcompanies are working closely with the regulatory agencies involved and discussions remainconstructive.”