PHILADELPHIA, Sept. 21, 2017 /PRNewswire/ -- FMC
Corporation (NYSE: FMC) today announced that it has received
approval from the Competition Commission of India (CCI) for the proposed acquisition of a
significant portion of DuPont's Crop Protection business. The
CCI is the final jurisdiction to grant antitrust clearance needed
to satisfy regulatory conditions for closing.
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"FMC is pleased to have received CCI's approval," said Pierre
Brondeau, FMC president, CEO and chairman. "We are
on track to close our transactions with DuPont on November 1, 2017."
FMC announced on March 31, 2017
the signing of a definitive agreement for FMC to acquire a portion
of DuPont's Crop Protection business that it must divest to comply
with the European Commission ruling related to its merger with The
Dow Chemical Company. FMC will acquire DuPont's global
chewing pest insecticide portfolio, its global cereal broadleaf
herbicides, and substantially all of DuPont's global crop
protection R&D capabilities. Additionally, DuPont will
acquire FMC's Health and Nutrition segment and receive $1.2 billion in cash.
About FMC
For more than a century, FMC Corporation has served the global
agricultural, industrial and consumer markets with innovative
solutions, applications and quality products. Revenue totaled
approximately $3.3 billion in
2016. FMC employs approximately 6,000 people throughout the
world and operates its businesses in three segments: FMC
Agricultural Solutions, FMC Health and Nutrition and FMC
Lithium. On March 31, 2017, FMC
announced the signing of a definitive agreement to acquire a
significant portion of DuPont's Crop Protection business and to
sell FMC Health and Nutrition to DuPont. Closing is expected
to occur in the fourth quarter of 2017. For more information,
visit www.FMC.com.
Safe Harbor Statement under the Private Securities Act of
1995: Statements in this news release that are forward-looking
statements are subject to various risks and uncertainties
concerning specific factors described in FMC
Corporation's 2016 Form 10-K and
other SEC filings. Such information
contained herein represents management's best judgment as of the
date hereof based on information currently
available. FMC Corporation does not intend
to update this information and disclaims any legal obligation to
the contrary. Historical information is not necessarily indicative
of future performance.
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SOURCE FMC Corporation