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 August 1, 2008. Not only does the prohibition reconfirm that the AML has real teeth, but MOFCOM's accompanying statement raises several points that should bear close attention by firms considering transactions that might be subject to notification under the AML. MOFCOM's statement is available here. 1.Foreign Party Acquisitions. Many transactions between foreign parties are reportable in China under the AML and may be subject to intensive reviews—and even prohibition—if there is
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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)
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