logo
Share SHARE
FONT-SIZE Plus   Neg

China Approves Acquisition Of H.J. Heinz By Berkshire Hathaway And 3G Capital

H.J. Heinz Co. (HNZ) announced that it has received regulatory approval from the Chinese Ministry of Commerce for the acquisition of Heinz by an investment consortium comprised of Berkshire Hathaway (BRKA, BRKB) and an investment fund affiliated with 3G Capital.

The transaction remains subject to certain customary closing conditions, including receipt of certain remaining regulatory approvals, and is now expected to close in early-to mid-June.

Heinz said it has received antitrust clearance in the United States, Brazil, India, South Korea, Japan, Israel, Mexico, South Africa and Ukraine, and other regulatory approvals in Russia, New Zealand and Ireland. The Company noted that it is waiting for antitrust clearance in the European Union and Russia.

Heinz agreed in mid-February to be taken private by an investment consortium comprised of Berkshire Hathaway and 3G Capital for $72.50 per share in cash in a deal valued at about $28 billion, including assumed outstanding debt.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Teens and young adults now find Instagram and Snapchat more attractive than Facebook, a new study by eMarketer revealed. The report also suggested that for the first time, Snapchat might overtake Facebook in the U.S. by gaining a marketshare of 40.8 percent in social network. A new survey has shown that a majority of parents as well as teens agree that texting or use of cell phones are the biggest distraction to teen drivers. The survey also found that risky driving behavior seems to run in the family. The 2017 Family Safe Driving Report was released by EverQuote Inc., a venture-backed online insurance marketplace. Less than two months after its debut on the New York Stock Exchange, embattled meal-kit delivery company Blue Apron Holdings Inc. has been hit with multiple shareholder lawsuits for its "misleading" and "untrue" statements in its IPO prospectus. The various lawsuits mirror each other in their allegations against Blue Apron, its CEO, CFO, directors and the underwriters of its IPO.
comments powered by Disqus
Follow RTT