Is a VIE an Obstacle to a Merger Filing in China?

Scott Yu, Frank Jiang, Rachel Li, Emily Xu and Derek Liu of Zhong Lun Law Firm discuss a recent joint venture between Yum China and Mininglamp that the firm advised on involving a variable interest entity (VIE) structure that received unconditional clearance from the State Administration for Market Regulation (SAMR), which is the first case of its kind in China. They also highlight key issues arising in a merger filing involving a VIE structure and offer some key practical guidance for VIE structured companies

10 minute readJuly 30, 2020 at 03:37 AM

Susan Mok

Is a VIE an Obstacle to a Merger Filing in China?

This was the first case involving a VIE structure that has been formally docketed and unconditionally cleared by the Chinese antitrust authority since its conditional clearance of Walmart's acquisition of

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