Brazil approves DowDuPont deal

Brazil’s Administrative Council for Economic Defense has approved Dow Chemical’s merger with DuPont. The regulatory agency is asking for the same concessions the European Commission did. To satisfy these, DuPont is selling a portion of its crop protection unit to FMC, and Dow Chemical plans to divest its ethylene acrylic acid polymer business to South Korea’s SK Global Chemical. In addition, Brazil is asking Dow to sell a portion of its corn seed business in Brazil. The divestment is to include some processing plants, research centers, and Dow’s Brazilian corn germplasm bank. Dow and DuPont expect to complete their merger in August.