Competition Commission clears FMC-DuPont deal
Competition Commission today said it has approved the deal involving specialty chemicals firm FMC and global major DuPont.
Both companies have presence in India.
"@CCI_India approves acquisition of: certain insecticide, herbicide business & R&D activities of DuPont by FMC; FMC's H&N business by DuPont," the regulator said in a tweet.
Competition Commission of India (CCI) keeps a tab on unfair business practices across sectors and deals beyond a certain threshold require its approval.
Under the transaction, US-based FMC would acquire acquire various insecticides, herbicides, and crop protection R&D activities of DuPont, according to the notice submitted to the watchdog seeking approval.
"As part of the consideration for the proposed transaction, FMC's Health and Nutrition business will be acquired by DuPont and combined with the existing health and nutrition business of DuPont and the nutrition business of Dow (H&N Acquisition)," as per the notice.
DuPont (E.I. du Pont de Nemours and Company) is a global science and engineering company with interests in various segments, including agriculture and industrial biosciences.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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