coke-moves-a-step-closer-to-acquiring-huiyuan-juice

Coke moves a step closer to acquiring Huiyuan Juice

The approval process for the $2.4 billion acquisition enters phase two. External factors suggest the deal will be successful by the March 23 deadline.
The Coca-Cola Company's application for regulatory approval of its $2.4 billion acquisition of Hong Kong-listed Huiyuan Juice has crossed the initial 90-day milestone, and has now moved into the next phase of the 200-day period, the two companies said in a joint statement yesterday.

The application has been lodged with the Chinese Ministry of Commerce for approval under the anti-monopoly law.

The 200-day period to gain regulatory approval, which was agreed between the two parties, will end on March 23, 2009. The release only described the approval process as ôprogressingö.

The purchase of a strong domestic brand by one of the worldÆs most omnipresent multinationals has proved controversial. Zhu Xinli, the entrepreneur and 41%-stakeholder behind...
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