ChemChina and the Swiss pesticides and seeds group Syngenta have confirmed they have responded to concerns by the European Union’s competition watchdog over their merger.<br /><br /> No details have been made public but usually companies offer to sell some assets in areas where they might dominate and also give guarantees over product pricing. <br /><br /> The competition regulator had been focused on the two firms’ overlapping portfolios of herbicides and insecticides which could potentially reduce competition for such products.<br /><br /> The European Commission has extended its review of the $43 billion (40.6 billion euro) deal to April 12.<br /><br /> US and Australian regulators have already approved it.<br /><br /> Adama is key<br /><br /> One person close to the deal told Reuters it was unlikely that state-owned ChemChina would have to sell its Adama Agricultural Solutions Ltd unit. Discussions were focusing on remedying concerns with respect to specific products, some of which Adama may own.<br /><br /> This person said the overall divestments would be less than $500 million (473 million euros).<br /><br /> “It’s about individual products where competition is scarce,” this person said, adding that some of these products were only worth tens of millions of dollars.<br /><br /> “My understanding is that [divestments] are very minor,” another source close to the deal said.<br /><br /> Israel-based Adama makes generic crop protection and pest control products. It is the largest supplier of generic crop protection products in Europe, according to the Commission.<br />
