Syngenta is confident the ChemChina takeover will be finalized by the second quarter. Photo: Reuters, Edgar Su

China’s Commerce ministry approved China National Chemical Corp’s (ChemChina) acquisition of Swiss agri-giant Syngenta AG on Wednesday, moving the deal closer to becoming the biggest-ever Chinese acquisition of a foreign firm.

Earlier this month, the US Federal Trade Commission and the European Commission approved the deal on the condition that ChemChina divest certain assets.

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