The Chinese MOFCOM clears major overseas transaction in automobile industry subject to conditions (GM / Delphi)

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 to conditions as summarized below. Pfizer/Wyeth In Pfizer/Wyeth, in a review process that took less than four months, MOFCOM concluded that the acquisition would not result in a substantial change of competitive conditions in the pharmaceuticals market generally, but may nevertheless reduce competition in certain sectors of the animal health market. Those included, in particular, swine mycoplasmal pneumonia vaccine, for which the parties have a combined 49.4% market share. MOFCOM therefore

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Authors

  • WilmerHale (Beijing)
  • WilmerHale (Beijing)

Quotation

Lester Ross, Kenneth Zhou, The Chinese MOFCOM clears major overseas transaction in automobile industry subject to conditions (GM / Delphi), 29 September 2009, e-Competitions Bulletin Automobile, Art. N° 37621

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