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CCI approves Bayer-Monsanto deal

Press Trust of India  |  New Delhi 

Fair trade regulator has approved the acquisition of US-based biotech by German and pharma AG.

However, the approval is subject to compliance of "certain modifications".

is buying out in a USD 66 billion deal.

In a tweet, the (CCI) said it has approved "acquisition of by AG, subject to compliance of certain modifications".

Earlier in January, had launched a public consultation process to determine whether the billion dollar merger deal between Bayer and Monsanto to create the world's largest seeds and pesticide firm will have any adverse impact on competition in

Mergers and acquisitions beyond a certain threshold require approval of the

Both the companies have presence in India, with the US firm selling genetically modified (GM) cotton seeds in the country for more than a decade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 22 2018. 17:20 IST