Syngenta expects its takeover by ChemChina to be completed in the second quarter of this year. The company agreed to a takeover by ChemChina a year ago, having previously been linked with Monsanto.

However, the deal - which would be the largest takeover of a foreign business by a Chinese company - still needs regulatory approval in the EU, United States, Brazil, Canada, India, Mexica and China.

The company said it’s making “significant progress” towards gaining gaining the approval of regulators on Wednesday.

On announcing Syngenta’s 2016 full-year results, CEO Erik Fyrwald said, "The announcement of the transaction with ChemChina promises continuity for the future and has allowed our people to remain focused on delivering their business goals.”

Discussing Syngenta’s performance, Fyrwald said, “In 2016, Syngenta showed a resilient performance in the face of another difficult year for the agriculture industry, with crop prices remaining low and grower profitability under pressure in many areas. We saw an encouraging sales performance in the fourth quarter, with regional sales up 7 percent excluding the non-recurring corn trait royalty received in 2015.”

The Swiss company also plans to push its AGM to June, given its expectations for closing the deal with ChemChina.