The Commerce Ministry will review Coca-Cola's announced takeover of Chinese juice producer Huiyuan under the new Anti-monopoly law, AFP reports. A review is reportedly likely because of the large amount of sales the two companies make in China.
Last week, Coca-Cola said it has offered HKD17.9 bn (USD2.3 bn) to buy China's leading beverage company Huiyuan Juice Group. China's Commerce Ministry announced yesterday that it will carry out an
anti-monopoly review of the takeover as soon as it "receives
Coca-Cola's application for the bid", spokesman Yao Shenhong told China
Central Television.
The anti-monopoly law took effect in August. Analysts are quoted as
saying by state media that the deal must be reviewed because the
"firms' combined global turnover was more than RMB10 bn in 2007 and
each made over RMB400m in China." Figures from Merrill Lynch show the
two companies control 37 per cent of China's juice drinks market.
|
|
|
Users' Comments  |
|
Average user rating
|
|
Add your comment
|
News & Interviews 
