china: coca-cola #39;s takeover plan under moc #39;s review

[2008-12-23 17:04:00]

   China's Ministry of Commerce is reviewing the Coca-Cola's multi-billion dollars takeover bid for Huiyuan Juice Group Ltd<1886> under China's anti-monopoly law, the two companies said in a joint statement on Tuesday. Coca-Cola said the review process was progressing and the company would make a further statement if approval was obtained before Mar. 23, 2009. No further details were provided.



The company announced its plan to acquire Huiyuan Juice, China's largest fruit juice company in September. It agreed to pay US$ 2.5 billion for Huiyuan, three times its value, which makes it the biggest takeover by a foreign company in China.

Source: 中国食品产业网
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