Mofcom gives conditional approval to GM/Delphi and Pfizer/Wyeth

China's merger-control regulator has given approval to General Motor's re-acquisition of assets of Delphi Corp, a previously bankrupt car-parts manufacturer, after the companies agreed to comply with behavioural conditions. The regulator has also separately approved Pfizer's acquisition of Wyeth after extending its review beyond the initial 30-day period.

GM reportedly plans to invest US$1.75 billion in Delphi, and provide loans. In line with the requirements of the PRC Anti-monopoly Law (中华人民共和国反垄断法), the companies filed a merger notification with the Ministry of Commerce (Mofcom) on August 18, but the official review period did not begin until August 31. The delay was apparently due to the Ministry asking the parties to make two separate supplementary submissions.