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Mofcom announces approval of Yili, Shengmu deal after companies reverse statement

( April 29, 2017, 12:10 GMT | Official Statement) -- MLex Summary: The Antimonopoly Bureau of China's Ministry of Commerce today said it had approved the proposed acquisition of a 37 percent stake in Shengmu Organic Milk by Yili Group on April 13 and notified the companies the following day. The statement came in response to an earlier statement from the companies that said the deal would be terminated because they hadn't received approval before April 21, the end date that they had agreed on. The companies didn't collect the notice of approval until April 25, the regulator said in its statement.The statement follows:...

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