The deal will enable India’s Crystal Crop Protection to acquire a 100% stake in the local subsidiary of U.S. agrochemical group FMC.
The Competition Commission of India (CCI) has approved Crystal Crop Protection Ltd’s acquisition of 100% shareholding in FMC India Private Limited, marking a significant transaction in India’s crop protection industry.
The acquisition will see Crystal Crop acquire FMC India from FMC Netherlands Holdings II B.V. and its affiliates on a fully diluted basis.
In July, Crystal sought approval under Form II of the Competition Commission of India (Combinations) Regulations for its proposed acquisition of FMC's commercial crop protection business in India. Parties typically opt for the long-form filing where a transaction involves significant horizontal or vertical overlaps requiring a more detailed competitive assessment.
In its three-page merger filing, Crystal told the CCI that although both parties are present in the Indian agrochemical sector, the transaction will not result in any material change to the competitive landscape nor cause any appreciable adverse effect on competition in any relevant market in India.
✔️Crystal Crop, incorporated in India in 1994, is engaged in the development, manufacturing and distribution of crop protection products, seeds and agricultural equipment. Its crop protection portfolio spans herbicides, fungicides, insecticides, seed treatment and plant health and nutrition products.
✔️FMC India, incorporated in 2000, is engaged in the manufacture and marketing of crop protection products in India, including insecticides, herbicides, fungicides, seed treatment and plant health and nutrition products. The company is part of the FMC Corporation group, a global crop protection business involved in the development, manufacture, marketing and sale of insecticides, herbicides, fungicides and plant health and nutrition products.
The CCI’s approval clears the regulatory requirement for the proposed acquisition of FMC India by Crystal Crop.
Source: Global Agriculture
