Cheminova divestment to close in mid-April
The divestment of Cheminova to FMC is expected to be completed by mid-April, says parent company Auriga. The acquisition was agreed in September last year subject to conditions including approval by relevant competition authorities and by Auriga’s shareholders. Brazil’s competition authority, the council for economic defence (CADE), published its approval of Auriga’s divestment on April 2nd. The publication initiates a statutory waiting period of 15 days, calculated from the date of publication, which is to expire before the approval is final and the parties can close the transaction. All other competition clearances from the relevant jurisdictions have been obtained. Auriga shareholders approved the divestment in October.