中國化工收購先正達掃除監管障礙

ChemChina’s $43bn purchase of Syngenta has cleared the two biggest remaining regulatory hurdles, opening the way for China’s largest cross-border deal to close by June.

中國化工(ChemChina) 430億美元收購先正達(Syngenta)的兩個最大監管障礙已被清除，爲中國最大的跨境交易在6月份完成鋪平道路。

The most challenging antitrust approvals were granted, first by the US Federal Trade Commission on Tuesday and then by Margrethe Vestager, Europe’s antitrust watchdog, yesterday after the state-owned Asian giant agreed to sell some assets in Europe and some in the US.

最具挑戰性的反壟斷審批已通過，第一個是由美國聯邦貿易委員會(Federal Trade Commission)在週二授予，隨後在這家國有亞洲巨頭同意出售部分歐美資產後，歐洲反壟斷監管負責人瑪格麗特?維斯特格(Margrethe Vestager)於昨日授予。

“The EU and the US are the big regulatory approvals that we’re seeking,” said Erik Fyrwald, Syngenta chief executive, in an interview last week in Brussels. He had “very high confidence” the deal would close by June.

先正達首席執行官方華德(Erik Fyrwald)上週在布魯塞爾接受採訪時表示：“歐盟和美國是我們尋求獲取的最大監管審批。”他“很有信心”交易將在6月份完成。

Seventeen regulators have approved the sale and clearance is still pending, although expected, in India, Mexico and China.

17家監管機構已經批准了這筆交易，仍有待印度、墨西哥和中國批准，但預計都能過關。

Chinese regulatory approval is unlikely to be withheld for one of its own state-owned enterprises.

中國監管部門不太可能拒絕批准一家國有企業。

ChemChina’s deal is the second in a trio of megamergers in the $100m global agrichemical and seeds industry.

在重塑全球農業和種子行業的價值1000億美元的三起併購中，中國化工這筆交易是第二筆。

Dow Chemical’s $140m merger with Dupont was the first deal announced and that merger was cleared in Europe last week, although approval from the US, China and Brazil is still outstanding.

陶氏化學(Dow Chemical) 1400億美元合併杜邦(DuPont)是公佈的第一筆大交易，上週這起併購案已在歐洲通過，不過仍有待美國、中國和巴西的審批。

The third deal, Bayer’s $66bn purchase of Monsanto, is expected to start its European review this month.

第三筆交易是拜耳(Bayer) 660億美元收購孟山都(Monsanto)，預計本月開始在歐洲接受審批。