RPT-UPDATE 4-ChemChina close to striking deal for Syngenta -sources

Tue Feb 2, 2016 7:11pm EST
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* Nearing deal worth about 470 SFr/share -sources

* Would mark largest cross-border deal by Chinese buyer

* Syngenta shares up 5.7 percent pct at 400 SFr

By Arno Schuetze and Pamela Barbaglia

Feb 2 (Reuters) - China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for around 43 billion Swiss francs ($42.2 billion), two people familiar with the matter said on Tuesday.

The deal, for roughly 470 Swiss francs per share, would be the biggest cross-border deal involving a Chinese buyer and mark an acceleration of a shakeup in the global agrochemicals industry. Negotiations are in final stages but nothing has been signed, the two sources said.

It will likely be announced on Wednesday, when Syngenta is scheduled to release 2015 results, the people said.

One source said minor adjustments to the price were still being discussed.   Continued...