28 June 2019, United Overseas Bank Limited (UOB) entered into an agreement with Shenergy (Group) Company Ltd. (Shenergy) to set up a joint venture consumer finance limited liability company in Shanghai, China.
Continue Reading KWM advises UOB on its consumer finance joint venture with Shenergy
A Simple Tip to Undertakings: Coinsurance or JV Arrangement Cannot Circumvent Cartel Prohibition
By Susan Ning, Weiqing Qiu and Kate Peng King & Wood Mallesons’ Commercial & Regulatory Group
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n February 3, 2016, China’s State Administration for Industry and Commerce (“SAIC”) announced its first decision in 2016: SAIC’s Jiangxi provincial branch imposed penalties on 17 local insurance companies for concluding and implementing anticompetitive agreements to divide the casualty insurance market for construction projects in Jiangxi. The fines imposed in the case ranged from 5,934 ($902) yuan to 2,091,970 yuan ($317,979).
Continue Reading A Simple Tip to Undertakings: Coinsurance or JV Arrangement Cannot Circumvent Cartel Prohibition
MOFCOM cleared Joint Venture between ARM, Giesecke & Devrient and Gemalto with Conditions
By Susan Ning, Ji Kailun and Hazel Yin
On December 6th, 2012, the Ministry of Commerce (“MOFCOM“) cleared the proposed establishment of a joint venture (“JV“) by ARM Holdings plc (“ARM“), a UK semiconductor intellectual property (“IP“) supplier, Giesecke & Devrient GmbH (“G&D“) and Gemalto NV (“Gemalto“), both providers of security solutions, with behavioral conditions. This marks the third conditional clearance of JVs issued by MOFCOM. The JV will be engaged in providing security solutions named trusted execution environments (“TEE“) for consumer electronic devices. Continue Reading MOFCOM cleared Joint Venture between ARM, Giesecke & Devrient and Gemalto with Conditions