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Syngenta says ChemChina's takeover poses no security issues

Staff writer |
Swiss agriculture company Syngenta said that its planned sale to State-owned conglomerate China National Chemical poses no food safety or national security issues.

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The company was responding to U.S. lawmakers after they raised concerns over the $43 billion takeover.

"We welcome a full review of the transaction by the U.S. government and will continue to work closely with all of the agencies as we move forward in the review process," a Syngenta spokesman was quoted as saying by newswire Dow Jones.

"We do not believe the proposed transaction raises any food safety or significant national security issues."

Senator Charles Grassley of Iowa, a Republican member of the Senate committee on agriculture, nutrition and forestry, said a bipartisan group of senators would seek a formal role for the U.S. Agriculture Department as the Committee on Foreign Investment in the U.S., or CFIUS, carries out a national security review of the ChemChina-Syngenta deal.

Earlier this month, U.S. Agriculture Secretary Tom Vlasik said he too had reservations about the transaction and its impact on US competitors trying to get into the Chinese market.

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