According to a newsletter article by Adam Roseman, Nestle, the Swiss food company, recently announced plans to buy 60% of Hsu Fu Chi in a deal worth 3.5 billion Singapore dollars. The transaction allows Nestle to open new opportunities and styles, as well as cater to local tastes.
“China is now saying that it’s open to multinational companies,” explained Frank Schoneveld of McDermott Will & Emery.
He added that antitrust authorities have said that as foreign companies get closer to acquiring Chinese brands or consumer companies, challenges will heighten.
Marc Waha of Norton Rose added “China’s regulators are now attempting to present a level playing field for foreign and domestic companies.”