Sep 22, 2017FMC gets OK to close Dupont Crop Protection purchase
FMC Corp. received approval Sept. 21 from the Competition Commission of India (CCI) for the proposed acquisition of a significant portion of DuPont’s Crop Protection business. The CCI is the final jurisdiction to grant antitrust clearance needed to satisfy regulatory conditions for closing.
“FMC is pleased to have received CCI’s approval,” said Pierre Brondeau, FMC president, CEO and chairman. “We are on track to close our transactions with DuPont on Nov. 1.”
FMC announced on March 31 the signing of a definitive agreement for FMC to acquire a portion of DuPont’s Crop Protection business that it must divest to comply with the European Commission ruling related to its merger with The Dow Chemical Co.
FMC will acquire DuPont’s global chewing pest insecticide portfolio, its global cereal broadleaf herbicides and substantially all of DuPont’s global crop protection R&D capabilities.
Additionally, DuPont will acquire FMC’s Health and Nutrition segment and receive $1.2 billion in cash.