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Yihai Kerry, CJ CheilJedang hit with Mofcom fines for failure to notify joint venture

( February 6, 2018, 03:30 GMT | Official Statement) -- MLex Summary: China’s Ministry of Commerce has fined Yihai Kerry Investments and South Korea-based CJ CheilJedang 150,000 yuan ($23,828) each for their failure to notify a joint venture between them, according to a penalty decision published by the ministry today. Mofcom held that the deal met notification thresholds prescribed under China's antitrust laws, but it also said the deal had no anticompetitive impact. The ministry launched a probe of the case on Dec. 29, 2016.The penalty decision follows:...

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