(Dow Jones) -- Syngenta AG Chief Executive John Ramsay said regulatory reviews of the Swiss seed and pesticide company's $43 billion acquisition by ChemChina are on track so the deal should close by the end of the year.
"We're still very much on course for all regulatory reviews," Mr. Ramsay said in an interview with The Wall Street Journal.
In February, Syngenta agreed to be acquired by government-owned China National Chemical Corp., as ChemChina is formally known, for $43 billion cash.
The deal faces regulatory reviews particularly in regions with large agriculture sectors including the European Union, U.S. and Brazil.
The deal faces particular scrutiny in the U.S. given Syngenta's ownership of chemical facilities there. The Committee on Foreign Investment in the U.S., or CFIUS can review foreign takeovers for any security concerns.
On Wednesday, Syngenta reported that first-quarter sales fell 7% to $3.7 billion, a decline driven by the stronger U.S. dollar. Excluding the effects of currency changes, sales were unchanged during the first three months of the year compared with the same period last year.
Sales fell 4% to Europe, Africa and the Middle East, though they rose 6% at constant exchange rates. Sales were down 2% at constant exchange rates to North America.
Mr. Ramsay said he expects the company to adjust to changes in foreign exchange markets, and that currencies should affect Syngenta's bottom line by only around $75 million this year.
"We're trying to match costs with revenues in the same currency," he said.
Syngenta has been able to raise prices in countries such as Russia and Ukraine that have seen substantial devaluations of their currencies.