China’s quest to build its own companies that can compete with global multinationals has prompted the federal government to initiate talks with state-owned ChemChina and Sinochem. The merger would create an agriculture chemical, fertilizer, and petrochemical behemoth with about $100 billion in revenues.
It is unclear whether the merger would jeopardize ChemChina’s $43-billion takeover of Syngenta because a combined Sinochem-ChemChina will face additional antitrust concerns. The Syngenta-ChemChina deal has already been approved by the U.S. Committee on Foreign Investment, which could require a new review of a deal that now includes Sinochem.
In recent weeks, Chinese media have raised questions about ChemChina’s ability to close the deal with Syngenta, citing missing bridge financing.
Los informes de la fusión han sido filtrados por fuentes no oficiales y aún no han sido confirmados por ninguna de las compañías.