Only 10 days after its conditional clearance of the Alpha
V/Savio deal1, the Ministry of Commerce
(MOFCOM) published, on 10 November 2011, the third
conditional merger clearance of this year approving the proposed
joint venture between General Electric (China) Ltd. (GE
China) and China Shenhua Coal to Liquid and Chemical Co.,
Ltd. (CSCLC)2.
This is the first conditional decision relating to a Chinese
Stated-owned enterprise (SOE) and the number of
MOFCOM's conditional clearance decisions is lifted to nine in
total. According to MOFCOM's announcement, the review process
lasted for about 7 months starting from April 13 when the
notification was first submitted to MOFCOM.
Parties and Transaction. The proposed
transaction was announced as early as January, 2011 as part of
President Hu Jintao's state visit to the United
States3. GE China and CSCLC are to establish a 50/50 JV
mainly to license coal-water slurry (CWS) gasification technology
to industrial and power
