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China: $28B Heinz deal passes major hurdle

 |  May 24, 2013

Chinese antitrust authorities, notorious for often taking exceptionally hard looks at merger deals, have reportedly approved of a buyout of the H.J. Heinz Co. in a $28 billion deal to Berkshire Hathaway and 3G Capital. Two more regulators will now have to approve of the deal before it can proceed, but with the approval from the Chinese Ministry of Commerce, the parties now expect the acquisition to be completed by the end of June. The European Commission and Russia’s Federal Antimonopoly Service are now left to review the deal; regulators in the US, Brazil, South Korea, Japan, South Africa and others have already given their green lights.

Full Content: Pittsburgh Post-Gazette

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