Affected by the regulatory authorities, CIC
- Author:Elena
- Source:Search network
- Release Date:2022-08-29
It is reported that Maski announced yesterday that it had announced the termination of its previous transactions with Zhongji Group, that is, Zhongji Group's acquisition of refrigerated container manufacturer Master container industry (MCI) from Matsky. As the major regulatory challenge hindered the completion of the transaction, the two parties agreed to terminate the agreement.
Today, Zhongji Group has also issued an announcement on the termination of the purchase of the Matsky container industry. The announcement stated that at present, due to the huge uncertainty of the concentrated review of the operator, the prerequisites stipulated in the "Equity Purchase Agreement" may not be achieved. Therefore, after the comprehensive evaluation of the two parties, the two parties decided to terminate the transaction on this announcement date. It also said that the termination of this transaction will not have a significant adverse effect on the group's main business operations.
On September 28 last year, Zhongji Group announced that it would acquire a 100%equity of the Mariski container industry (MCI) industry (MCI) of Matsques Cold and refrigerated container manufacturing business for $ 1.083.8 billion. After the acquisition is completed, Zhongji Group will take over employees and assets of MCI, including its Danish headquarters (R & D and testing center) and its cold box manufacturing plant in Qingdao, China.
At that time, the two parties were expected to be completed in 2022. As part of the completion process, the transaction needs to be approved by the regulatory authorities.
Affected by the regulatory authorities, CIC
Picture source: Masky
On August 25, the website of the US Department of Justice released a news that after investigation by its antitrust department, the CICC and Maski gave up the acquisition plan.
The U.S. Department of Justice said that the acquisition will consolidate two of the world's four major thermal insulation containers and refrigerated container suppliers, and further concentrate on the global cold supply chain. It will also strengthen the control of more than 90%of the world's global refrigerated container production.
Jonathan Kanter, Assistant Attorney General of the Anti -Monopoly Department of the US Department of Justice, said: "The daily necessities of American consumers depend on the global cold supply chain."
"Zhongji Group's acquisition of MCI may harm the US economy, leading to rising prices, decline in quality, and decline in global supply chain. This will consolidate the dominant position in the integrated industry and Eliminate MCI as an innovative and independent competitor. "
The Ministry of Justice also mentioned that its antitrust department and German national competition regulatory agency (German Bundeskartellamt) cooperated in their respective investigations.
According to Druori data, China Ji Group has about 42%of the market share in the container manufacturing industry, and the top three manufacturers are Chinese companies.
"Although the parties have made efforts, the transaction is still unable to do it. In the foreseeable future, Maski will continue to become the owner of the MCI, and we will now evaluate the MCI The best structure settings to ensure the long -term development of the business. "
MCI was founded in 1991. For many years, it has transformed into a company that is fully focused on making refrigerated containers. Today, MCI has 2,300 employees in China and Denmark.
Today, Zhongji Group has also issued an announcement on the termination of the purchase of the Matsky container industry. The announcement stated that at present, due to the huge uncertainty of the concentrated review of the operator, the prerequisites stipulated in the "Equity Purchase Agreement" may not be achieved. Therefore, after the comprehensive evaluation of the two parties, the two parties decided to terminate the transaction on this announcement date. It also said that the termination of this transaction will not have a significant adverse effect on the group's main business operations.
On September 28 last year, Zhongji Group announced that it would acquire a 100%equity of the Mariski container industry (MCI) industry (MCI) of Matsques Cold and refrigerated container manufacturing business for $ 1.083.8 billion. After the acquisition is completed, Zhongji Group will take over employees and assets of MCI, including its Danish headquarters (R & D and testing center) and its cold box manufacturing plant in Qingdao, China.
At that time, the two parties were expected to be completed in 2022. As part of the completion process, the transaction needs to be approved by the regulatory authorities.
Affected by the regulatory authorities, CIC
Picture source: Masky
On August 25, the website of the US Department of Justice released a news that after investigation by its antitrust department, the CICC and Maski gave up the acquisition plan.
The U.S. Department of Justice said that the acquisition will consolidate two of the world's four major thermal insulation containers and refrigerated container suppliers, and further concentrate on the global cold supply chain. It will also strengthen the control of more than 90%of the world's global refrigerated container production.
Jonathan Kanter, Assistant Attorney General of the Anti -Monopoly Department of the US Department of Justice, said: "The daily necessities of American consumers depend on the global cold supply chain."
"Zhongji Group's acquisition of MCI may harm the US economy, leading to rising prices, decline in quality, and decline in global supply chain. This will consolidate the dominant position in the integrated industry and Eliminate MCI as an innovative and independent competitor. "
The Ministry of Justice also mentioned that its antitrust department and German national competition regulatory agency (German Bundeskartellamt) cooperated in their respective investigations.
According to Druori data, China Ji Group has about 42%of the market share in the container manufacturing industry, and the top three manufacturers are Chinese companies.
"Although the parties have made efforts, the transaction is still unable to do it. In the foreseeable future, Maski will continue to become the owner of the MCI, and we will now evaluate the MCI The best structure settings to ensure the long -term development of the business. "
MCI was founded in 1991. For many years, it has transformed into a company that is fully focused on making refrigerated containers. Today, MCI has 2,300 employees in China and Denmark.