China’s Ministry of Commerce approved the $43 billion takeover of Switzerland’s Syngenta by ChemChina, a state-owned company. The transaction is the largest acquisition of a foreign entity in any sector by a China company. Its MOFCOM approval shows that China is ready to allow large amounts of China capital to move overseas, given the right opportunity. Syngenta produces agrochemicals and seeds, and its biotech division conducts genomic research. ChemChina is a specialty chemical company with a major focus in agrochemicals.
