ChemChina completes $43 billion acquisition of biotech giant Syngenta

Civil society organisations express their opposition to ChemChina's bid to acquire Syngenta. [Photo: China Business News]

China National Chemical Corporation, or known as ChemChina, announced on Thursday the completion of its 43 billion U.S. dollars acquisition of Syngenta AG, a leading pesticides and seeds supplier in Switzerland.

This is China's biggest overseas acquisition to date as well as one of several deals that have a significant impact on the industry.

After the acquisition, ChemChina owns 95 percent of the company, making ChemChina a world leader in agribusiness.

Headquartered in Basel, Syngenta has a history of 259 years.

It is the world's largest pesticide company, and the third largest seed supplier.

State-owned ChemChina has so far purchased nine companies in France, the UK, Germany, Italy and Israel.