By Susan Ning, Liu Jia and Hazel Yin
On February 9, 2012, the Ministry of Commerce ("MOFCOM") published its first conditional clearance decision in 2012, approving the proposed joint venture ("JV") established by Henkel Hong Kong Holdings Co., Ltd. ("Henkel HK") and Tiande Chemical Industry Co., Ltd. ("Tiande") ("Transaction"). This is the second conditional clearance decision in relation to a joint venture and reaffirms MOFCOM’s approach that formation of a joint venture does constitute a notifiable transaction under the Anti-monopoly Law ("AML"). 1
Review Process. MOFCOM received the notification on 8 August 2011 and officially accepted it on 26 September 2011. The case entered into Phase II on 25 October 2011 and the parties submitted the proposed remedies on 13 January 2012, shortly before MOFCOM decided to extend the Phase II period for another 60 days on 19 January 2012. On 9 February 2012, MOFCOM made the final decision to approve the Transaction with conditions.