THE GARDEN ISLAND
/ August 24, 2016 /
A potential $43 billion buy-out of Syngenta by China National Chemical Corporation (ChemChina) was approved by the Committee on Foreign Investment in the United States Monday.
The deal would result in the state-owned ChemChina acquiring Swiss-owned Syngenta, was made in February and was awaiting CFIUS approval before it could move forward.
According to a news release from Syngenta, the proposed transaction is expected to close by the end of the year.
Beth Tokioka, spokeswoman for Kauai Syngenta, said Syngenta is “pleased to have received clearance from CFIUS,” but wasn’t able to comment further on the topic.
She said she was unable to confirm whether the acquisition would have an effect on operations in Kauai’s Syngenta.
“We will not provide any additional information regarding the committee’s review, to respect the confidentiality of the process,” Tokioka said.
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