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ChemChina adds investor to Syngenta deal

The ChemChina acquisition of Swiss-based Syngenta faces further regulatory review after ChemChina announced changes to the deal’s structure. Dow Jones reports ChemChina has secured a $5 billion investment from an arm of Citic Ltd., one of China’s largest state-owned conglomerates. ChemChina says the investment allows the company to reduce the need for loans in the deal. Because of the changes, ChemChina was forced to re-file with the U.S. Committee on Foreign Investment, which reviews deals for national security concerns. ChemChina and Syngenta agreed to a $43 billion takeover earlier this year. The acquisition, if approved, would be the biggest by a Chinese company and would supercharge China’s effort to develop its domestic seed industry. The state-owned company still expects the deal to be completed by the end of 2016.

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