China National Chemical Corp (ChemChina) [CNNCC.UL] and Swiss pesticides and seeds group Syngenta AG (SYNN.S) have proposed minor concessions to the EU's competition watchdog to address concerns over their $43 billion merger plan, sources told Reuters.
One person close to the deal said it was unlikely ChemChina would have to sell its Adama Agricultural Solutions Ltd (ADAM.N) unit. Discussions were focusing on remedying concerns with respect to specific products, some of which Adama may own.
RELATED: European Union delays Syngenta-ChemChina merger decision until April
This person said the overall divestments would be less than $500 million.
The European Commission's website showed "commitments" submitted on Jan. 9, which typically means the parties have proposed remedies such as asset divestment or specific product pricing. It did not elaborate on the nature of the commitments.
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