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Italy exercises its golden power against the purchase of Verisem in the agri-food sector

The Italian government blocked the acquisition of the entire share capital of Verisem B.V. and its subsidiaries by Syngenta Crop Protection Ag, in defense of the strategic sector of seeds for the production of vegetables and aromatic herbs in Italy. It is the first time that golden power has been exercised in the Italian agri-food sector.

Syngenta is a Swiss holding company in the agro-industrial sector, purchased in 2017 by ChemChina and part of a Chinese petrochemical group born from the union of Chem China and Sinochem with a turnover of 150 billion dollars.

Verisem is a company with registered office in the Netherlands, but with 3 production sites and 198 employees in Italy. It is currently controlled by the American fund Paine Schwarz Partners.

The content of this article does not constitute legal advice, but has an informative function. For personalized legal advice, contact the firm by e-mail or by phone +39 06 916505710. © Dong & Partners International Law Firm, All rights reserved

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