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 behavioural remedies. This is MOFCOM’s first conditional clearance since Novartis/Alcon in August 2010, and the seventh since the introduction of the AML in August 2008. Competition assessment Without explicitly defining the geographic market, MOFCOM appears to have looked separately at both the global market for seaborne trade and a market for China’s landborne imports, while concluding that the transaction will restrict competition in the Chinese market for potassium chloride. Globally,

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