German chemicals giant BayerBSE -2.12 % is confident of its acquisition of US-based MonsantoBSE -1.47 %, as it awaits approval from the Competition Commission of India (CCI) to go ahead with the $66 billion merger, a top executive of the company has said.
“We are confident of the merger receiving a go-ahead from the CCI. We are working very closely with the authority,” Richard van der Merwe, vice chairman and managing director of Bayer Group in India, told reporters here on Tuesday.
The official said the deal, which was announced in September 2016, requires approval from about 30 countries, and so far 14 have approved the mega-merger, which will result into the world’s largest seed and pesticides firm.
“CCI may wait for the European Union to decide first. By April to May this year, we hope to have approvals from all of the 30 entities. We are not expecting any trouble from the Indian government,” Merwe said.
