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SYNGENTA'S ACQUISITION BY CHINACHEM TO UNDERGO NATIONAL SECURITY REVIEW
Feb. 9, 2016
BrownfieldAgNews reports:
Even though Syngenta is based in Switzerland, the proposed purchase of the seed and chemical company by the Chinese firm ChemChina will undergo a U.S. national security review.
The investigation will be conducted by the Committee on Foreign Investments in the United States, which is comprised of representatives from 16 U.S. agencies, including Treasury, Homeland Security and Defense. That committee reviews foreign acquisitions to establish whether they pose any threats to national security.
Some analysts say U.S. food security could be an issue in the review. But they also point out that the review committee approved the purchase of giant pork producer Smithfield Foods by a Chinese company in 2013 despite strong political opposition over food-security concerns.
Syngenta says it does not see any obstacles to getting the deal approved and hopes to have regulatory approvals from both the U.S. and Switzerland by the end of 2016.
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