Chinese regulators have approved the sale of the H.J. Heinz Co., leaving just two more countries to weigh in on the $28 billion cash-and-debt deal.
The Pittsburgh ketchup maker this morning announced that the Chinese Ministry of Commerce has given its approval for the acquisition by Berkshire Hathaway and 3G Capital.
The company said it now expects the sale to close in early to mid-June.
The European Union and Russian officials still need to review the acquisition for antitrust issues.
Because the Pittsburgh company does business across the globe, it has sought approvals from countries all over the world in which it sells various food products.
Heinz noted it has already won antitrust clearance in the United States, Brazil, India, South Korea, Japan, Israel, Mexico, South Africa and Ukraine, in addition to other needed regulatory approvals in Russia, New Zealand and Ireland.
Shareholders voted to approve the merger April 30.mobilehome - neigh_city - breaking - businessnews
Teresa F. Lindeman: firstname.lastname@example.org or 412-263-2018.