In a potential setback for foreigners looking to buy corporate assets in China, Beijing has said that starting next month overseas acquisitions of large Chinese companies must undergo an anti-monopoly probe. The regulation threatens to jeopardize -- or at least hold up -- several previously agreed upon transactions. The new measure is part of a broad set of regulations governing mergers and acquisitions in China by foreign investors released recently by state-owned Xinhua News Agency.
August 14, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
In a potential setback for foreigners looking to buy corporate assets in China, Beijing has said that from next month overseas acquisitions of large Chinese companies must undergo an anti-monopoly probe.
The regulation threatens to jeopardize — or at least hold up — several previously agreed transactions, most notably Carlyle Group’s 3 billion renminbi ($376 million) takeover of Xugong Group Construction Machinery Co. Ltd.
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