November 23, 2018 / 12:26 PM / 22 days ago

China's market regulator conditionally approves UTC's Rockwell Collins deal

BEIJING, Nov 23 (Reuters) - China’s market regulator said it has given conditional approval to United Technologies Corp’s purchase of aircraft parts maker Rockwell Collins Inc , a move which is expected by the companies.

Some of the conditions include requiring both companies to dispose certain assets and some requirements related to the supply of aircraft components in the Chinese market, China’s State Administration for Market Regulation said in a statement on its website www.samr.saic.gov.cn.

The market regulator oversees anti-monopoly issues.

In October, United Technologies, a jet engines-to-air conditioners group, soothed investor nerves over the deal by saying that that it was confident of getting Chinese approval for the purchase.

Reporting by Min Zhang in Beijing and Lee Chyen Yee in Singapore, editing by Louise Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below