- Ministry of Commerce Amends Rules on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors
- September 14, 2009
- Law Firm: Troutman Sanders LLP - Atlanta Office
Released on July 23, 2009, and effective as of the same date
The Ministry of Commerce (“MOFCOM”) amends the Provisions on Mergers and Acquisitions (“M&A”) of Domestic Enterprises by Foreign Investors (“Provisions”) to make sure that the Provisions are consistent with the Anti-monopoly Law and the Provisions of the State Council on the Standards of Declaration of Concentration of Business Operators. The new version also removes the whole chapter on anti-monopoly review.
Additionally, the new version replaces the term “ultimate controller” in Article 42.1.1 and Article 44.1.3 of the Provisions with “actual controller,” when listing the documents for submission relating to a special purpose vehicle.