The Chinese MOFCOM conditionally clears the acquisition in the electronic yarn clearers for automatic winders (Penelope / Savio Macchine Tessili)

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 acquisition by Alpha Private Equity Fund V (Alpha V) of Savio group (an Italia based textile machinery producer, Savio) with four conditions. This is also the second conditional merger clearance this year [1] . Set out below are the salient issues in relation to this conditional clearance decision. Parties. The acquirer, Alpha V is a private equity fund, whose investments mainly relate to non-ferrous metal recycling, supply of household textile, and production and supply of textile machinery.

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  • King & Wood Mallesons (Beijing)

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Susan Ning, The Chinese MOFCOM conditionally clears the acquisition in the electronic yarn clearers for automatic winders (Penelope / Savio Macchine Tessili), 31 October 2011, e-Competitions Bulletin October 2011, Art. N° 40972

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