On December 30, 2011, the Chinese Ministry of Commerce (“MOFCOM”) published the Provisional Rules on the Investigation and Handling of Concentrations between Undertakings not Notified in Compliance with the Law (“Provisional Rules”). These rules shortly come into force, on February 1, 2012, and set out MOFCOM’s official investigation procedure and sanctions for companies which fail to notify their mergers: a sure sign that the authority is determined to strengthen its law enforcement mechanisms under the existing merger control regime.
This alert provides a practical overview of the investigation procedure and a company’s rights and obligations, in addition to potential issues, including a lengthy investigation, inspections of company premises, automatic suspension of the merger, and the imposition of fines.
Please see full alert below for more information.
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