January 16, 2017 / 3:55 PM / 3 years ago

Syngenta CEO expects regulatory approval for ChemChina deal soon: CNBC

CEO Erik Fyrwald of Swiss agrochemicals maker Syngenta gestures as he addresses a news conference to present the company's half-year results in Basel, Switzerland July 22, 2016. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Syngenta Chief Executive Erik Fyrwald expects regulatory approval soon for ChemChina’s proposed $43 billion takeover of the Swiss pesticides and seeds group, he said on Monday.

“I am very confident that we will finish the deal. We are making a lot of progress,” he told broadcaster CNBC in an interview from the World Economic Forum annual meeting in Davos.

“We are working well with the U.S. and the EU regulators now toward finalising the agreements with them and expect to be finished in the not too distant future,” he said.

China National Chemical Corp (ChemChina) [CNNCC.UL] and Syngenta AG have proposed minor concessions to the EU’s competition watchdog to address concerns over their merger plan, sources close to the matter told Reuters last week.

Reporting by Michael Shields; Editing by Susan Fenton

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