On 7th December 2011, Nestlé’s intended purchasing 60% shares of Hsu Fu Chi by Rmb1.51bn ($234m) was cleared by MOFCOM officially. By this news, all clouds of doubt and debates from a variety of societies in last months are dispelled. In particular, Nestlé/Hsu Fu Chi decision from MOFCOM cleans up the school of worries from
December 2011
China Unicom and China Telecom Submitted the Application for Suspension of Investigation to NRDC
By AnJie Broad on
Posted in Competition Law/ Anti-Monopoly Law
The Price Supervision, Inspection and Antitrust Bureau of NRDC has confirmed to the public on 2nd December 2011, that they have received applications from China Unicom and China Telecom for the suspension of probe on alleged abuse of dominant position by the parties in last month. In addition, China Telecom also submitted a proposal of …
High-level MOCFOM Visit to US Antitrust Agencies
By AnJie Broad on
Posted in Competition Law/ Anti-Monopoly Law
On 29th November 2011, an official meeting was held between Chinese delegations led by MOFCOM’s vice minister Gao Hucheng and delegations of US antitrust agencies, Federal Trade Commission (FTC) and Department of Justice (DOJ). It is the first official high-level talk between public enforcement agencies of China and US, since DOJ and FTC signed an …
Conditional Clearance Offers Further Insight on Concentrations
By AnJie Broad on
Posted in Competition Law/ Anti-Monopoly Law
On October 31 2011 the Ministry of Commerce posted Notice 73 in its website, announcing the clearance of a proposed concentration between Penelope Co Ltd and Savio Macchine Tessili SpA on certain conditions. The ministry’s reasoning and analysis shed light on its approach to the review of concentrations on anti-monopoly grounds.
The notice states that the would-be acquirer, Penelope, was incorporated specifically as a tool for the transaction. Alpha Private Equity Fund V is Penelope’s wholly-owned controlling shareholder – it invests in non-ferrous metal recycling and the production and sale of textile and home textile machinery. Alpha V is the largest shareholder in Uster technologies Co Ltd, holding 27.9% of the equity shares.
Savio, the proposed target, is a manufacturer of textile machinery. It produces electronic yarn clearers for winders, twisters and rotor-spinning frames. Phenanthrene Brothers Co Ltd is a wholly owned subsidiary of Savio.Continue Reading Conditional Clearance Offers Further Insight on Concentrations