Syngenta says US talks over ChemChina bid ‘constructive’

Swiss agrochemicals maker Syngenta’s logo | REUTERS/Arnd Wiegmann

Syngenta AG, which has agreed to be taken over by China National Chemical Corp. for $43 billion, said talks with regulatory authorities to win approval for the deal have been constructive and the Swiss company is confident the transaction can be closed on time.

Talks with the Committee on Foreign Investment in the U.S. are ongoing and the goal remains to complete the deal by year end, Chief Executive Officer Erik Fyrwald said in a phone interview on Friday. Basel, Switzerland-based Syngenta reported a 12 percent decline in first-half earnings before interest, taxes, depreciation and amortization to $1.77 billion, lower than an average of $1.91 billion predicted by analysts surveyed by Bloomberg. Sales fell 7 percent to $7.1 billion.

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