Press Release: Mergers: Commission approves acquisition of controlling stake in Israeli agrochemical company Makhteshim Agan by China National Agrochemical

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of joint control over Israeli agrochemical company Makhteshim Agan Industries Ltd. (MAI) by the Chinese state-owned company China National Chemical Corporation (CNAC) and Israeli company Koor Industries (Koor). MAI is currently under the sole control of Koor.

The Commission examined the effects of the proposed acquisition in the markets for agrochemical and non-agrochemical products and concluded that it did not raise competition concerns in the European Union. The joint venture partners will continue to face competition from a number of other strong competitors in the EU and customers still retain sufficient alternative suppliers in all of the markets concerned.