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​China's Mofcom levies fines for three unnotified mergers

( May 4, 2016, 07:35 GMT | Official Statement) -- MLex Summary: China’s Ministry of Commerce, or Mofcom, has imposed fines ranging from 150,000 yuan ($23,000) to 400,000 yuan on five companies involved in three mergers for failing to notify it of the transactions, the ministry said today. The deals were the acquisition of a 50 percent stake in Jilin Sichang Pharmaceutical by Dade Holdings; a joint venture between New United Group and Bombardier Transportation; and a joint venture between Beijing CNR Investment and Hitachi. Mofcom said in the orders that none of the three transactions had the effect of restricting or eliminating competition.The three statements follow:...

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