Yum! Brands Inc. should eventually receive approval of its attempted acquisition of Chinese hot-pot restaurant chain Little Sheep Group, industry officials say
October 31, 2011
– Industry analysts say that Yum! Brands Inc. should eventually receive approval of its attempted acquisition of Chinese hot-pot restaurant chain Little Sheep Group Ltd., Bloomberg reported Oct. 31.
DBS Vickers Hong Kong Ltd. said the Chinese Ministry of Commerce is unlikely to reject Yum’s bid, saying that even with the acquisition, independently owned eateries would still control 90% of sales. The ministry has only blocked one of the more than 250 takeovers it has reviewed since China’s anti-monopoly law began three years ago.
Alick Wong, an analyst at Louis Capital Markets in Hong Kong, said he expects the deal to be closed by March.
The primary source of this article is Bloomberg, New York, New York, on Oct. 31, 2011.