BEIJING (Reuters) - China has conditionally approved the proposed merger between Dow Chemical Co (DOW.N) and Dupont (DD.N), the country’s Commerce Ministry said on Tuesday, a step forward for the deal whose closing has been repeatedly delayed by regulatory hurdles.
The merger was approved by EU antitrust regulators in March on the condition the companies divest assets and research and development facilities.
Regulators in the United States, Brazil, Australia and Canada are yet to clear the deal.
China’s conditions for approval include divesting Dupont’s research and development department as well as assets related to pesticides and herbicides used in rice, such as metsulfuron-methyl, azimsulfuron, cyantraniliprole and chlorantraniliprole and indoxacarb, the ministry said in a statement.
Reporting by Beijing Monitoring Desk; Editing by Christian Schmollinger and Muralikumar Anantharaman