Mergers in China

Mergers

The Chinese MOFCOM approves a merger in the semiconductor industry subjecting it to a fix-it first remedy (NXP / Freescale)
China Competition Bulletin
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China Competition Bulletin
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Hogan Lovells (Beijing)
NXP’s acquisition of Freescale was conditionally approved by the MOFCOM on 27 November 2015. Both companies are major players in the semiconductor industry. The notification was first accepted in May 2015 and review had entered extended phase 2, but the notification was withdrawn and then (...)

The Chinese MOFCOM fines several undertakings for breaches of merger notification rules (FJEI / FPID / Nanjing Puzhen / Bombardier Sweden / BestTv / Microsoft)
AnJie Law (Beijing)
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AnJie Law (Beijing)
Warning from MOFCOM: Second Wave of Penalties Imposed for Breaches of Concentration Notification Rules* On September 29th 2015, the Ministry of Commerce of the P.R.C (“MOFCOM”) published four administrative decisions on penalties for illegal activities involved in the concentration of (...)

The MOFCOM cracks down on failures to notify qualifying mergers, acquisitions and joint ventures (Fujian / Shenzhen CHINO-E - Microsoft / BesTV - Bombardier / CSR Nanjing Puzhen - Suzhou Erye / Shanghai Fosun)
Skadden, Arps, Slate, Meagher & Flom (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Brussels)
China’s Anti-Monopoly Law requires businesses to notify transactions to the Ministry of Commerce (MOFCOM) for merger control review, so long as the parties meet certain revenue thresholds and the transaction involves a change of control or the establishment of a joint venture . Despite these (...)

The Chinese MOFCOM approves an acquisition of additional shares of a Chinese brewery by a competitor (Anheuser-Busch InBev’s / Zhujiang Brewery)
China Competition Bulletin
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China Competition Bulletin
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Hogan Lovells (Beijing)
On 20 August 2015, the MOFCOM approved Anheuser-Busch InBev’s acquisition of additional shares in Zhujiang Brewery. After the acquisition, Anheuser-Busch InBev’s interest in Zhujiang Brewery will be increased from 25.62% to 29.99%, but the composition of the board of directors and the supervisory (...)

The Chinese Ministry of Commerce implements its new provisions on imposing additional restrictive conditions on concentrations of business operators
King & Wood Mallesons (New York)
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King & Wood Mallesons (Beijing)
Developments to the Merger Control Regime in China: MOFCOM’s Provisions on Imposing Additional Restrictive Conditions on Concentrations of Business Operators (for Trial Implementation)* With the collaboration of Al Wu, Sarah Eder and Lingbo Wei. On 4 December 2014, the Provisions of the (...)

The Chinese MOFCOM publishes penalty decisions regarding merger control for the first time (Unigroup / RDA Microelectronics; Western Digital / Hitachi)
AnJie Law (Beijing)
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AnJie Law (Beijing)
MOFCOM Steps Up: Penalty Decisions Regarding Merger Control Published for the First Time* Two months after the National Development and Reform Commission (“NDRC”) published its last high-profile anti-monopoly penalty decisions (e.g.Japanese Auto Parts and Bearing Manufacturers case, Audi and (...)

The MOFCOM blocks a transaction notwithstanding the fact that both U.S. and European authorities had chosen not to challenge the joint venture (MSC, CMA CGM, P3)
Davis Polk & Wardwell (New York)
For only the second time since it began reviewing mergers and joint ventures in 2008, when China’s Anti-Monopoly Law (AML) came into effect, China’s Ministry of Commerce (MOFCOM) has blocked a proposed transaction rather than addressing its competition and trade policy concerns through some form (...)

The Chinese MOFCOM prohibits the proposed shipping alliance among the world’s three largest liner shipping operators (P3 Alliance)
AnJie Law (Beijing)
No Way: Top Three Shipping Liners’ Proposed Alliance was Blocked by Chinese Watchdog* Introduction On the very last day of the statutory period for a merger review (i.e. June 17, 2014), China’s Ministry of Commerce (“MOFCOM”) rendered its decision to prohibit the proposed shipping alliance among (...)

The Chinese MOFCOM reviews a merger in the communication sector, before it is called off because of the length of the merger control review process (Publicis / Omnicom)
White & Case (Washington)
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White & Case (Washington)
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White & Case (Washington)
Advertising giants Omnicom Group and Publicis Groupe called off their US$35 billion merger on May 8, 2014, terminating a transaction that would have created the largest advertising company in the world. Publicis chairman, Maurice Lévy, and Omnicom CEO, John Wren, said in a joint statement, “The (...)

The Chinese MOFCOM conditionally clears a merger in the manufacture of flat panel displays sector (Merck / AZ Electronics)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
On April 30, MOFCOM approved the acquisition of AZ Electronic Materials S.A. (“AZ”) by Merck KGaA (“Merck”). MOFCOM’s review focused on two products that are components in the manufacture of flat panel displays (FPDs): liquid crystal and photoresist. The decision indicates that MOFCOM engaged (...)

The Chinese MOFCOM clears acquisition on the market for chemical materials used in the manufacture of integrated circuits and flat panel displays (Merck / AZ Electronics)
AnJie Law (Beijing)
Last Hurdle for Merck’s Acquisition of AZ Electronics Removed: MOFCOM’s 23rd Conditional Clearance* Following the antitrust watchdog in Germany, Japan, Taiwan and the United States, the Ministry of Commerce of the People’s Republic of China (MOFCOM) conditionally cleared Merck KGaA’s (Merck) (...)

The Chinese MOFCOM grants a conditional clearance on a proposed $3.1 billion acquisition on the market for liquid display crystals and photoresists (Merck / AZ Electronics)
AnJie Law (Beijing)
MOFCOM Raised Specific Concerns over Adjacent Markets in Its Merger Review* Introduction On April 30, 2014, China’s Ministry of Commerce (“MOFCOM”) granted a conditional clearance on the proposed $3.1 billion acquisition of London-listed AZ Electronic Materials S.A. (“AZ”) by Merck KGaA (“Merck”) (...)

The Chinese MOFCOM publishes rules setting out the eligibility criteria for simple merger cases entitled to the simplified procedure
AnJie Law (Beijing)
At Last, MOFCOM Formally Adopted Simplified Merger Review Procedure* Introduction The Ministry of Commerce (“MOFCOM”) finally published the Guiding Opinions on Notification of Simple Cases of Concentration of Undertakings (the “Guiding Opinions”) on 18 April 2014, two months after the Interim (...)

The China’s Ministry of Commerce (MOFCOM) clears a merger in the mining industry (Glencore Xstrata / Las Bambas)
Mattel (Hong Kong)
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White & Case (Hong Kong)
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White & Case (London)
At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part with one of the prized assets in Xstrata’s portfolio, the Las Bambas (...)

The Chinese MOFCOM conditionally clears a merger in the smartphone market (Microsoft / Nokia)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
On April 8, MOFCOM approved Microsoft’s acquisition of Nokia’s mobile handset business. MOFCOM’s review focused on three product markets: smartphones, mobile operating systems, and the licensing of standard-essential and non-essential patents for smartphones. Geographically, MOFCOM focused on (...)

The China Insurance Regulatory Commission partially relaxes mergers and the new acquisition rules in the insurance sector are expected to help facilitate market entry and expand the footprint of private capital
AnJie Law (Beijing)
China Issues New Insurance Merger Rules* Level play ground, optimizing industry structure, promoting competitiveness, and enriching the risk management tool kit of the insurance institutes”, quoting a statement of CIRC posted on its website. Promotion of Competition CIRC’s partially relaxed (...)

The Chinese MOFCOM announces decision to publicize the decisions of administrative penalties of undertakings which did not submit a notification prior to the implementation of their concentration
AnJie Law (Beijing)
Non-filers Beware: MOFCOM Takes More Strict Approach* Introduction On March 21, 2014, the PRC Ministry of Commerce (“MOFCOM”) announced that it decided to publicize the decisions of administrative penalties of undertakings which did not submit a notification prior to the implementation of their (...)

The Chinese MOFCOM announces new penalties for companies that fail to notify mergers
General Court of the European Union
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White & Case (Brussels)
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White & Case (Stockholm)
MOFCOM Shows Teeth Against Gun Jumping* Summary On 20 March 2014, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) issued a notice announcing that it will make public decisions sanctioning companies failing to notify mergers that meet the filing thresholds. The notice further (...)

The Chinese MOFCOM introduces simplified merger review provisions to improve process
Skadden, Arps, Slate, Meagher & Flom (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Hong Kong)
China Introduces Simplified Merger Review Provisions to Improve Process*Over the past several years, companies engaging in mergers, acquisitions and joint ventures have been subject to long and unpredictable competition reviews for transactions notified in China. Although China’s Anti-Monopoly (...)

The Chinese MOFCOM publishes a set of provisions establishing substantive criteria necessary to fulfil in order to qualify as a simple merger case
King & Wood Mallesons (New York)
MOFCOM Takes a Major Step towards a Simplified Merger Control Procedure by Promulgating the Standards for Simple Cases* On February 11, 2014, China’s Ministry of Commerce (MOFCOM) published the long-awaited Interim Provisions on the Standards for Simple Cases of Concentrations of Operators (the (...)

The Chinese MOFCOM conditionally approves an acquisition in the biotechnology sector (Thermo Fisher / Life Technologies)
Fingleton Associates
On Tuesday 14th January 2014 MOFCOM conditionally cleared the acquisition of Life Technologies Corporation (“Life Technologies”) by Thermo Fisher Scientific Inc. (“Thermo Fisher”). The review process took 6 months from initial notification, which is relatively quick for an intervention decision by (...)

The Chinese MOFCOM announces its conditional clearance of a merger on the market for LCD TV controller chip (MediaTek / MStar)
King & Wood Mallesons (New York)
Another “Hold-Separate” Decision of MOFCOM—MediaTek’s Acquisition of MStar is Cleared with Conditions* On August 27, 2013, MOFCOM announced its conditional clearance on MediaTek Inc’s (“MediaTek”) 4 billion USD acquisition of MStar Semiconductor Inc (“MStar“) (the “Transaction“). This is the second (...)

The Chinese MOFCOM conditionally approves the EUR 3 billion acquisition of a medical technology company (Baxter & Gambro)
King & Wood Mallesons (New York)
MOFCOM Conditionally Cleared Baxter’s $4 Billion Acquisition of Gambro* On August 13, 2013, China’s Ministry of Commerce (MOFCOM) announced on its website that it has conditionally approved the $4 billion acquisition of Swedish medical technology company Gambro AB by Baxter International. (...)

The Chinese MOFCOM grants a clearance on the proposed acquisition of a Swedish equipment manufacturer by an American healthcare company (Baxter & Gambro)
AnJie Law (Beijing)
MOFCOM conditionally approves Baxter’s acquisition of Gambro* On 8 August 2013, China’s Ministry of Commerce ("MOFCOM") granted a clearance on the proposed acquisition of the Swedish dialysis equipment manufacturer Gambro AB ("Gambro") by its US rival healthcare company Baxter ("Baxter") in (...)

The Chinese MOFCOM requests public comments on draft provisions concerning the evaluation, negotiation, implementation, monitoring, reconsideration of the remedies used in the conditional approvals issued as a result of the pre-merger review process
Sheppard Mullin (Beijing)
MOFCOM Requests Public Comments on Draft Provisions Related to Remedies Imposed in Conditional Approvals* Since the Anti-monopoly Law (“AML”) has come into effect in August 2008, MOFCOM has issued 16 conditional approvals requiring certain structural or behavioral remedies in order to prevent (...)

The Chinese MOFCOM imposes complex behavioural remedies after identifying potential concerns about impact on competition in the import to China of soy beans (Marubeni / Gavilon)
Fingleton Associates
On the 23rd April 2013 MOFCOM published its 2nd merger decision of the year. It was a clearance, with conditions, of the merger between Marubeni Corp, a publicly listed company headquartered in Japan, and Gavilon Holdings LLC, a privately held company based in the USA. Process The parties (...)

The Chinese MOFCOM cleares conditionally an acquisition in the grain trading sector (Marubeni / Gavilon)
King & Wood Mallesons (New York)
MOFCOM Cleared Marubeni’s Acquisition of Gavilon with Conditions* On April 22, 2013, the Ministry of Commerce (“MOFCOM“) cleared the proposed acquisition of Gavilon Holdings, LLC (“Gavilon“) by Marubeni Corp (“Marubeni“) (the “Transaction”) with conditions. This is the second case conditionally (...)

The Chinese MOFCOM announces conditional clearance for a merger in the sensitive market of agriculture and food products (Marubeni / Gavilon)
Hogan Lovells (Beijing)
Recent Developments in Chinese Merger Control – MOFCOM Shifts up a Gear* The Chinese Ministry of Commerce (“MOFCOM“) has stepped up its merger control activities on many fronts in recent weeks, issuing ground-breaking decisions in the Glencore/Xstrata and Marubeni/Gavilon cases and circulating (...)

The Chinese MOFCOM clears conditionally an acquisition imposing both structural and behavioural remedies (Glencore / Xstrata)
King & Wood Mallesons (New York)
MOFCOM cleared Glencore’s acquisition of Xstrata with Conditions* On April 16, 2013, the Ministry of Commerce (“MOFCOM“) cleared the proposed acquisition of Xstrata plc (“Xstrata“) by Glencore International plc (“Glencore“) with conditions. Both structural and behavioral remedies are involved in the (...)

The Chinese MOFCOM clears merger in the mining industry (Glencore / Xstrata)
Mattel (Hong Kong)
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White & Case (Hong Kong)
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White & Case (London)
At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part with one of the prized assets in Xstrata’s portfolio, the Las Bambas (...)

The Chinese MOFCOM publishes for public comment the draft Rules Regarding Imposition of Restrictive Conditions on Concentrations of Undertakings
King & Wood Mallesons (New York)
Path towards A More Streamlined Merger Control System – MOFCOM Publishes Draft Rules on Merger Remedies* To increase clarity and transparency on the merger remedy regime under the Anti-Monopoly Law (“AML“), China’s Ministry of Commerce (“MOFCOM“) published the draft Rules Regarding Imposition of (...)

The Chinese MOFCOM clears conditionally an international JV in the IT sector (ARM / Giesecke & Devrient / Gemalto)
King & Wood Mallesons (New York)
MOFCOM cleared Joint Venture between ARM, Giesecke & Devrient and Gemalto with Conditions* On December 6th, 2012, the Ministry of Commerce (“MOFCOM“) cleared the proposed establishment of a joint venture (“JV“) by ARM Holdings plc (“ARM“), a UK semiconductor intellectual property (“IP“) (...)

The Chinese MOFCOM conditionally clears an off-shore joint venture involving European computer technology groups (ARM / Giesecke & Devrient / Gemalto)
Fingleton Associates
On the 6th December 2012 MOFCOM published its 6th and last merger decision of the year - a clearance, with conditions, of the Trustonic joint venture between ARM, Giesecke & Devrient (G&D), and Gemalto. Process The parties submitted their initial notification on 4th May 2012. MOFCOM (...)

The Chinese MOFCOM enforces telecoms regulations in anti-monopoly law merger review (Wal-Mart / Yihaodian)
Ingram Yuzek Gainen Carroll & Bertolotti
The notification for the Wal-Mart/Yihaodian transaction was submitted to China’s Ministry of Commerce on 16 December 2011. It was ultimately accepted on 16 February 2012 by MOFCOM after supplementation. At the expiration of the Phase III, or extended Phase II, period, on 13 August 2012, MOFCOM (...)

The Chinese MOFCOM approves acquisition subject to what some observers believe were over-cautious conditions linked to a lack of experience and institutional resources (Google / Motorola Mobility)
Sheppard Mullin (Beijing)
China’s MOFCOM Grapples With Open Source Issues In Google-Motorola Deal* This past February the US Department of Justice (“DOJ”) and European Commission (“Commission”) cleared Google Inc.’s acquisition of Motorola Mobility Holdings Inc. without any conditions. In contrast, on May 19, 2012 the (...)

The Chinese MOFCOM again uniquely imposes AML conditions on a transaction in the smartphone sector (Google / Motorola Mobility)
Ingram Yuzek Gainen Carroll & Bertolotti
The notification for Google‘s acquisition of Motorola Mobility was submitted to China’s Ministry of Commerce on 30 September 2011. It was ultimately accepted on 21 November 2011 by MOFCOM after supplementation. At the expiration of the Phase III, or extended Phase II, period, on 19 May 2012, (...)

The Chinese MOFCOM approves an acquisition subject to conditions in the IT industry (Google / Motorola Mobility)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
On 19 May 2012, the PRC Ministry of Commerce ("MOFCOM") approved the acquisition by Google Inc. of Motorola Mobility, Inc. under the Chinese Anti-Monopoly Law ("AML"), but imposed conditions to require that Google continue to license the Android operating system and the patents acquired from (...)

The Chinese MOFCOM conditionally clears an acquisition in the smartphone and smartphone operating system sectors (Google / Motorola Mobility)
Institute of American Studies
China’s Ministry of Commerce Conditionally Clears the Google/Motorola Mobility Deal* On 19 May 2012, China’s Ministry of Commerce (‘MOFCOM’) announced its conditional clearance decision on the acquisition of Motorola Mobility by Google, which removed the last hurdle for the USD12.5 billion (...)

The Chinese MOFCOM clears acquisition in the hard disk drive business (Western Digital / Hitachi)
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McDermott Will & Emery (Shanghai)
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McDermott Will & Emery (Shanghai)
Recently China’s Ministry of Commerce (MOFCOM) approved Western Digital’s proposed acquisition of Hitachi’s hard disk drive business on a conditional basis. Containing the most comprehensive clearance conditions ever imposed by MOFCOM, this decision mirrors previous guidance issued by the (...)

The Chinese MOFCOM clears an acquisition in the desktop hard drive disks market but imposes both structural and behavioral remedies (Western Digital / Hitachi)
Skadden, Arps, Slate, Meagher & Flom (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Hong Kong)
Companies contemplating global mergers,acquisitions and joint ventures should be aware that the Ministry of Commerce (MOFCOM), China’s antitrust agency tasked with merger control, is increasingly imposing competition remedies exceeding those required by the European Commission, U.S. Federal (...)

The Chinese MOFCOM issues new measures on investigating failures to notify concentrations
Linklaters (Beijing)
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Linklaters (Shanghai)
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Linklaters (London)
On 5 January 2012, the PRC Ministry of Commerce (“MOFCOM”) published on its website the long-awaited Interim Measures on Investigation into and Handling of Concentrations of Business Operators that have not been Notified in Accordance with Laws (the “Measures”). The Measures set out details of the (...)

The Chinese MOFCOM sets down procedures to investigate and penalize companies for failure to notify notifiable transactions in violation of the Anti-Monopoly Law
King & Wood Mallesons (New York)
MOFCOM Getting Tough on Failure to Notify a Concentration* On 30 December 2011, the Ministry of Commerce ("MOFCOM") promulgated the Interim Measures on Investigation and Punishment of Failure to Duly Notify Concentrations of Undertakings ("Interim Measures"), effective from February 1, 2012.1 (...)

The Chinese MOFCOM conditionally approves a merger between two leading hard drive disks manufacturers (Seagate / Samsung)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
China’s Ministry of Commerce (MOFCOM) has approved Seagate’s acquisition of the hard drive disk division of Samsung Electronics ("Samsung HDD") under China’s Anti-Monopoly Law ("AML"), but imposed conditions to ensure that Samsung, although controlled by Seagate, remains an independent competitor. (...)

The Chinese MOFCOM conditionally approves the acquisition of the HDD business of a Korean electronics company by a US competitor (Seagate / Samsung)
Skadden, Arps, Slate, Meagher & Flom (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Hong Kong)
Companies contemplating global mergers,acquisitions and joint ventures should be aware that the Ministry of Commerce (MOFCOM), China’s antitrust agency tasked with merger control, is increasingly imposing competition remedies exceeding those required by the European Commission, U.S. Federal (...)

The Chinese MOFCOM passes provisional rule on failure to notify concentrations
King & Wood Mallesons (New York)
MOFCOM Passed Provisional Rule on Failure to Notify on Concentration* On December 7, the Provisional Measures on Investigating and Penalizing Violation of Notification Obligations for Concentrations between Business Operators (Provisional Measures) were reviewed and discussed at the No. 57th (...)

The Chinese MOFCOM conditionally publishes a conditional approval of a transaction in the coal sector under Anti-Monopoly Law (Shenhua JV)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
The Chinese Ministry of Commerce ("MOFCOM") has published a conditional approval of proposed transaction under China’s Anti-Monopoly Law ("AML"). This decision reflects China’s view of the broad reach of the AML’s merger provisions and the lengthy procedure that merging parties can expect. (...)

The Chinese MOFCOM conditionally clears a joint venture involving a Chinese State-owned company in order to license coal-water slurry gasification technology (GE / Shenhua)
King & Wood Mallesons (New York)
MOFCOM Imposed Conditions on SOEs - GE/Shenhua Deal* Only 10 days after its conditional clearance of the Alpha V/Savio deal, the Ministry of Commerce (MOFCOM) published, on 10 November 2011, the third conditional merger clearance of this year approving the proposed joint venture between (...)

The Chinese MOFCOM publishes a conditional approval of proposed transaction under Anti-Monopoly Law (Alpha V)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
The Chinese Ministry of Commerce ("MOFCOM") has published a conditional approval of proposed transaction under China’s Anti-Monopoly Law ("AML"). This decision reflects China’s view of the broad reach of the AML’s merger provisions and the lengthy procedure that merging parties can expect. Since (...)

The Chinese MOFCOM conditionally clears the acquisition in the electronic yarn clearers for automatic winders (Penelope / Savio)
King & Wood Mallesons (New York)
MOFCOM’s 8th Conditional Clearance - Alpha V/Savio Deal* On 31 October 2011, the Ministry of Commerce (MOFCOM) publicly announced the eighth conditional merger clearance since the enactment of the Anti-monopoly Law (AML) in 2008. According to its announcement , MOFCOM cleared the proposed (...)

The Chinese MOFCOM approves, subject to equity divestiture, a proposed acquisition in the electronic yarn clearers for automatic winders (Penelope / Savio)
Linklaters (Beijing)
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Linklaters (Shanghai)
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Linklaters (London)
On 31 October 2011, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) announced its eighth conditional clearance decision, approving the acquisition of Savio by Penelope subject to an equity divestiture. This is the third decision since the introduction of the AML to require (...)

The Chinese MOFCOM conditionally clears a merger between undertakings in the market of textile machinery (Penelope / Savio Macchine Tessili)
Kingson Law Firm
On 14 July 2011, Penelope Srl (“Penelope”) notifies the Chinese Ministry of Commerce (“MOFCOM”) on acquiring control of Spa Savio Macchine Tessili (“Savio”). After preliminary scrutiny, the MOFCOM considers the acquisition was likely to eliminate or restrict competition in the market of electronic (...)

The Chinese MOFCOM issues guidelines on the assessment of mergers under the anti-monopoly law
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
The Ministry of Commerce of the People’s Republic of China ("MOFCOM") has published its Interim Rules on the Assessment of the Effects of Concentrations of Undertakings on Competition ("Rules"), effective September 5, 2011. The Rules explain how MOFCOM will assess mergers or other (...)

The Chinese MOFCOM issues new interim provisions on the assessment of anticompetitive effects of mergers
Linklaters (Beijing)
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Linklaters (Shanghai)
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Linklaters (London)
On 2 September 2011, the PRC Ministry of Commerce (the “MOFCOM”) published on its website the Interim Provisions on Assessment of Competitive Impact of Concentrations of Business Operators (the “Interim Provisions”), which came into effect on 5 September 2011. The Interim Provisions elaborate on (...)

The Chinese MOFCOM finalizes new interim provisions on the assessment of anticompetitive effects of mergers
Allen & Overy (Beijing)
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Allen & Overy (Beijing)
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Allen & Overy (Shanghai)
This article has been selected for the business category, mergers section of the 2012 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On 2 September 2011, China’s Ministry of Commerce (MOFCOM) published Provisional Rules on the Assessment of the (...)

The Chinese MOFCOM releases the provisions on national security review of foreign mergers and acquisitions of domestic enterprises
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White & Case (Hong Kong)
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K&L gates (Hong Kong)
China’s Ministry of Commerce (MOFCOM) released the Provisions on the National Security Review of Foreign Mergers and Acquisitions (M&A) of Domestic Enterprises(the “Provisions”) on August 26, 2011. They become effective on September 1, 2011. The Provisions are another step in establishing (...)

The Chinese MOFCOM announces that the acquisition of the China’s largest confectionery company by the global confectionery corporation is officially under review (Nestlé/Hsu Fu Chi)
AnJie Law (Beijing)
Nestlé’s Filing of Acquiring China’ Largest Listed Confectionery Company is Accepted* A spokeswoman from the Ministry of Commerce publicly declared in the recent, that the Ministry has officially accepted the notification on Nestlé’s acquisition of Hsu Fu Chi. If the Ministry turns on the green (...)

The Chinese MOFCOM publishes draft rules on investigation procedures regarding failure to notify on concentrations
King & Wood Mallesons (New York)
MOFCOM publishes draft rules on investigation procedures re failure to notify on concentrations* Pursuant to the Anti-Monopoly Law, transactions which are construed as "concentrations" (i.e. mergers, acquisitions and joint ventures) and which meet with specified turnover thresholds ; must be (...)

The Chinese MOFCOM publishes provisional rules on the investigation of concentrations of business operators without legal filing
AnJie Law (Beijing)
Can companies avoid filing concentrations?* When a merger, acquisition or joint venture is connected to the Chinese market and is treated as a concentration under China’s Anti-monopoly Law, a company’s first question to its lawyer is likely to be whether the transaction must be filed with the (...)

The Chinese MOFCOM issues draft rules on merger assessment inviting public comments
China Competition Bulletin
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China Competition Bulletin
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Institute of American Studies
MOFCOM Invited Comments on the Interim Provisions on the Assessment of Competitive Effects of Concentrations of Undertakings* The MOFCOM issued the draft Interim Provisions on the Assessment of Competitive Effects of Concentrations of Undertakings (Merger Assessment Rules) on 3 June 2011 and (...)

The Chinese MOFCOM approves merger between potash producers but requires they continue to supply the Chinese market (Silvinit and Uralkali)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
On June 2, 2011, the Chinese Ministry of Commerce (MOFCOM) announced conditional approval of the merger between Russian potash producers Silvinit and Uralkali. Since the PRC Anti-Monopoly Law ("AML") entered into force in 2008, MOFCOM has published only eight decisions, as it makes public only (...)

The Chinese MOFCOM conditionally approves merger between two Russian undertakings in the Chinese potash industry (Uralkali/Silvinit)
Linklaters (Beijing)
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Linklaters (Shanghai)
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Linklaters (London)
On 2 June 2011, under two months into Phase 2, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) publicly announced its decision approving the merger of Uralkali with Silvinit, leading to the creation of the world’s second largest potassium chloride supplier, subject to several (...)

The Chinese MOFCOM conditionally clears in phase II a merger between two Russian companies in the Chinese potash market (Urakali / Silvinit)
King & Wood Mallesons (New York)
The Russian Potash Deal - first conditional clearance of 2011* On June 2, 2011, Ministry of Commerce (MOFCOM) publicly announced the first conditional merger clearance in 2011. At its [2011] No. 33 Announcement, MOFCOM cleared Uralkali’s proposed acquisition of Silvinit (the Parties) (both (...)

The Chinese MOFCOM conditionally clears merger between two Russian companies in the Chinese potash market (Uralkali/Silvinit)
China Competition Bulletin
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China Competition Bulletin
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Institute of American Studies
MOFCOM Conditionally Approves the Acquisition of Silvinit by Uralkali* On 2 June 2011, the MOFCOM conditionally approved Uralkali’s proposed US$1.4 billion acquisition of Silvinit, both of which are Russian potash companies. The MOFCOM imposed a set of behavioural remedies. The MOFCOM accepted (...)

The Chinese State Council publishes a notice detailing its national security review procedure for the acquisition by foreing investors of domestic companies
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
The State Council of the People’s Republic of China has published a notice detailing its national security review («NSR») procedure for the acquisition by foreign investors of domestic Chinese companies («NSR Notice»). The NSR Notice, which implements Article 31 of the PRC Anti-Monopoly Law, will be (...)

The Chinese MOFCOM conditionally clears a merger in the pharmaceutical industry (Novartis / Alcon)
Linklaters (Beijing)
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Linklaters (London)
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Linklaters (Brussels)
On 13 August 2010, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) issued a conditional approval for the proposed acquisition of Alcon (“Alcon”) by Novartis AG (“Novartis”). The decision was issued after a merger review of just under four months (one month for Phase One review (...)

The Chinese MOFCOM imposes conditions on merger in pharmaceutical industry (Novartis / Alcon)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
After a four-month review, on 13 August 2010, China’s Ministry of Commerce (“MOFCOM”) authorized Novartis‘ acquisition of Alcon subject to conditions. Taking different approaches than one would see in the U.S. or European Union, MOFCOM’s decision is notable for the demanding view it takes of (...)

The Chinese MOFCOM publishes provisional rules on divestitures remedies
AnJie Law (Beijing)
Divestiture Regulation: A Giant Leap in Chinese Concentration Review Regime* On July 8th, MOFCOM (Ministry of Commerce of People’s Republic of China) released The Provisional Rules on Implementing Divestiture of Assets or Businesses(“Provisional Rules”). This legislative move can be seen as (...)

The Chinese MOFCOM clears the merger of consumer electronic companies with conditions (Panasonic / Sanyo)
WilmerHale (Beijing)
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WilmerHale (Beijing)
China’s Ministry of Commerce ("MOFCOM") on October 31, 2009 cleared the Panasonic/Sanyo transaction with conditions, concluding a nine-month review period. The Panasonic/Sanyo transaction is the most recent of the five transactions that MOFCOM has cleared with conditions since the Anti-Monopoly (...)

The Chinese MOFCOM recent merger decision on consumer electronics highlights the continuing challenges in Chinese merger control procedure (Panasonic / Sanyo)
Sidley Austin (Beijing)
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Hogan Lovells (Beijing)
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Sidley Austin (Beijing)
On October 30, 2009, China’s Ministry of Commerce (“MOFCOM”) issued its decision in the Panasonic/Sanyo case, and published a summary of the decision on its website. The Panasonic/Sanyo transaction is the most recent of a series of cases where MOFCOM imposed conditions when issuing antitrust (...)

The Chinese MOFCOM clears major overseas transaction in automobile industry subject to conditions (GM/Delphi)
WilmerHale (Beijing)
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WilmerHale (Beijing)
China’s Ministry of Commerce (MOFCOM) has just cleared two major overseas transactions, Pfizer’s acquisition of Wyeth in the pharmaceuticals industry and General Motors’ reacquisition of elements of auto parts manufacturer Delphi on September 28 and 29, respectively. Both clearances were subject (...)

The Chinese MOFCOM conditionally clears major overseas transaction in the pharmaceuticals industry (Pfizer / Wyeth)
WilmerHale (Beijing)
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WilmerHale (Beijing)
China’s Ministry of Commerce (MOFCOM) has just cleared two major overseas transactions, Pfizer’s acquisition of Wyeth in the pharmaceuticals industry and General Motors’ reacquisition of elements of auto parts manufacturer Delphi on September 28 and 29, respectively. Both clearances were subject (...)

The Chinese MOFCOM and four other authorities adopt joint measures on financial industry mergers
Kastell
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Linklaters (Beijing)
On July 21, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) released the Measures on the Calculation of Turnovers for the Notification of Concentrations of Business Operators in the Financial Industry (“Measures”). These Measures were jointly issued by MOFCOM, the People’s Bank (...)

The Chinese MOFCOM issues guidelines on computation of financial merger reporting thresholds
White & Case (Beijing)
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Mattel (Hong Kong)
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White & Case (Beijing)
As one of the world’s fastest growing economies, China has been a favorite destination for foreign investment since it opened its doors to foreign investors almost three decades ago. While its growth has slowed, the Chinese economy continues to grow moderately amid the global financial crisis, (...)

The Chinese Anti-Monopoly Committee of the State Council releases final version of Guidelines on the Definition of Relevant Markets
Kastell
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Linklaters (Beijing)
On July 7, the Anti-monopoly Committee of the State Council released the Guidelines on the Definition of Relevant Markets, (“Guidelines”), the draft of which was issued for public consultation in early January this year. The publication of the final version of Guidelines is significant because (...)

The Chinese Antitrust Authority requires capacity divesture in a merger between two leading manufacturers of methyl methacrylate products (Mitsubishi Rayon, Lucite International Group)
Jones Day (Beijing)
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Jones Day (Beijing)
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Winston & Strawn (New York)
On April 24, 2009, the Chinese Ministry of Commerce (MOFCOM) announced conditional approval of the proposed acquisition of Lucite International Group Limited by Mitsubishi Rayon Co., Ltd. This is the first MOFCOM decision requiring parties to divest a portion of their production capacity as a (...)

The Chinese MOFCOM halts acquisition of a leading Chinese juice producer by a foreign buyer (Coca-Cola/Huiyuan)
Kastell
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Linklaters (Beijing)
On March 18 2009, the Anti-Monopoly Bureau of the Ministry of Commerce (MOFCOM) prohibited the acquisition by The Coca-Cola Company of the Huiyuan Juice Group. This is the first prohibition decision under the merger regime in Chinas new Anti-Monopoly Law which came into force on 1 August last (...)

The Chinese MOFCOM blocks $2.4 billion acquisition of a leading Chinese juice producer by a foreign buyer (Coca-Cola / Huiyuan)
White & Case (Beijing)
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Mattel (Hong Kong)
On March 18, MOFCOM announced that it had blocked Coca-Cola’s proposed $2.4 billion acquisition of China Huiyuan Juice Group, a leading Chinese juice producer. It is MOFCOM’s second reported merger decision under the recently enacted Anti-Monopoly Law (“AML”), which came into effect August 1, 2008 (...)

The Chinese MOFCOM prohibits for the first time since the entry into effect of the new anti-monopoly law, a merger between a US soft drinks manufacturer and a Chinese juice producer (Coca-Cola / Huiyuan)
WilmerHale (Washington)
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WilmerHale (Washington)
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WilmerHale (Washington)
On March 18, 2009, China’s Ministry of Commerce (MOFCOM) announced that it had blocked Coca-Cola’s proposed acquisition of Chinese Huiyuan Juice Group Ltd. (Huiyuan) under Article 28 of China’s Anti-Monopoly Law (AML). This was MOFCOM’s first merger prohibition since the AML came into effect on (...)

The Chinese Antitrust Authority denies merger approval between US leading soft drinks and Chinese juice manufacturers (Coca Cola Company, Huiyuan)
Jones Day (Beijing)
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Jones Day (Beijing)
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Winston & Strawn (New York)
Today the Chinese Ministry of Commerce (MOFCOM) announced that it had denied antitrust approval of The Coca-Cola Company’s proposed acquisition of a famous Chinese Juice manufacturer, China Huiyuan Juice Group Limited («Huiyuan»). MOFCOM’s decision to block the Coke deal, after its conditional (...)

The Chinese MOFCOM invites comments on the draft Guidelines on the definition of relevant market
Kastell
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Linklaters (Beijing)
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Linklaters (Brussels)
Recent developments MOFCOM, the agency charged with merger review pursuant to the Chinese Antimonopoly Law, has recently accelerated the process of building the merger control regime in China. More specifically, as regards the substantive and procedural framework for merger review, MOFCOM is (...)

The Chinese MOFCOM Anti-Monopoly Bureau publishes sets of guidelines and regulations providing further detail on implementation of the Anti-Monopoly Law
White & Case (Beijing)
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Mattel (Hong Kong)
The Anti-Monopoly Bureau (“AMB”) of China’s Ministry of Commerce (“MOFCOM”) recently published seven sets of guidelines and regulations that provide further detail on implementation of the Anti-Monopoly Law (“AML”), which went into effect August 1, 2008. As described below, the guidance clarifies the (...)

The Chinese MOFCOM conditionally approves acquisition by the global Belgian beer producer of the US leading brewer (InBev/Anheuser-Busch)
Kastell
On November 18 2008, the Anti-Monopoly Bureau of the Ministry of Commerce (MOFCOM) approved the acquisition of U.S.-based Anheuser-Busch Companies Inc. by Belgian InBev NV/SA. The approval was, however, granted subject to conditions. This is the first such decision to be made public since the (...)

The Chinese Antitrust Authority provides guidance for merger review process under the new anti-monopoly law
Jones Day (Beijing)
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Jones Day (Beijing)
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Winston & Strawn (New York)
The China Ministry of Commerce (« MOFCOM »), which serves as the antitrust authority in charge of merger control under the new Anti-Monopoly Law (« AML »)[[ See Article 10 of the AML provides that the Anti-Monopoly Enforcement Authority ("AMEA"), designated by the State Council, is responsible for (...)

The Chinese State Council publishes new merger notification thresholds under the Anti-Monopoly Law
Jones Day (Beijing)
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Jones Day (Beijing)
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Winston & Strawn (New York)
The State Council has published the long-awaited Regulation on Notification Thresholds for Concentrations of Undertakings (the « Regulation»). The new thresholds supplement the merger control rules under the Anti-Monopoly Law (« AML»), which contains no specific notification thresholds. The new (...)

The Chinese State Council seeks comments on draft rules for merger control filings
Linklaters (Beijing)
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Linklaters (Brussels)
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Linklaters (Shanghai)
The PRC Anti-monopoly Law (promulgated on 30 August 2007 and effective on 1 August 2008) regulates monopolistic conduct which has the effect of eliminating or restricting market competition within the PRC. One type of monopolistic conduct regulated by the PRC Anti-monopoly Law (the "AML") is (...)

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