In Jul 11, Nestle announced it had signed an agreement with Hsu Fu Chi to buy a 60-percent stake in Hsu Fu Chi International for about 1.7 billion U.S. dollars.
According to Chinese Anti-monoply Law, Article 20 When their intended concentration reaches the threshold level as set by the State Council, undertakings shall declare in advance to the authority for enforcement of the Anti-monopoly Law under the State Council; they shall not implement the concentration in the absence of such declaration. And the spokesman of Ministry of Commerce said, Nestle’s bid for Hsu Fu Chi has fulfilled this standard.
In Jul 14, Nestle has filed this acquisition to Ministry of Commerce.