Verisem: Italian government blocks Syngenta
The Swiss group aimed to take over the seed company
The news had been anticipated in the media (see EFA News article of 22/10/2021) and now it is confirmed: the Italian government has exercised its veto powers (the so-called Golden Power) to block the acquisition of Verisem from Romagna. of the Swiss giant Syngenta (controlled by the Chinese of ChemChina).
Considering Verisem's business of national strategic interest (despite the fact that the company is no longer in Italian hands for some time, being controlled by the American fund Paine Schwarz Partners), a decree was issued by the Prime Minister Mario Draghi and the Minister of Agriculture Stefano Patuanelli that "orders the exercise of the power of opposition in respect of the acquisition by Syngenta Crop Protection Ag, of the entire capital of Verisem BV and its subsidiaries".
"Thanks to Premier Draghi and Minister Patuanelli for defending the Italian supply chain, activating the golden power procedure on Verisem", commented Luigi Scordamaglia , managing director of Filiera Italia. system. We represent a strategic sector of the national economy and of our food security. For this reason it is necessary to thwart foreign attempts to speculate on assets that are important for agriculture and therefore for the entire Made in Italy production chain”.
EFA News - European Food Agency