ChemChina, Syngenta submit remedy proposals to EU antitrust watchdog

State-owned China National Chemical Corp (ChemChina) and Swiss pesticides and seeds group Syngenta AG on Monday submitted proposed remedies to the European Union's antitrust watchdog to address concerns over their $43 billion merger.

The European Commission's website showed the companies had submitted "commitments" on Jan. 9, which typically means the parties have proposed remedies such as asset divestment or product pricing commitments.

The website did not show any further information on the nature of the commitments.

"Details of the remedy proposals are confidential," a spokesman for ChemChina told Reuters.

The Commission opened an in-depth investigation into ChemChina's takeover of Syngenta in October, saying the companies had not allayed concerns over the deal.

Syngenta said last week the Commission had agreed to extend the review deadline by 10 working days to April 12 to allow "sufficient time for the discussion of remedy proposals".

In an October statement, the Commission highlighted ChemChina's European subsidiary Adama as one area where the companies had overlapping operations that could cause competition concerns.