EC decision considering the control over SOEs may have far-reaching implications for future transactions of all Chinese SOEs in Europe.
In its recent decision in Case COMP/M.7850 - EDF / CGN / NNB Group of Companies, the European Commission (EC) has for the first time found a Chinese State-owned enterprise (SOE) to be controlled by the State-owned Assets Supervision and Administration Commission of the Chinese State Council (Central SASAC). Future acquisitions and formations of joint ventures by Chinese SOEs in Europe may require financial and legal advisers’ special attention and additional resources to assessing EU merger control requirements.
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