Shuanghui International Receives CFIUS Clearance for its Purchase of Smithfield Foods: Clearance Illustrates that the CFIUS Process is not an Insurmountable Barrier to Chinese Investment in the United States

Sullivan & Cromwell LLP - September 10, 2013
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Shuanghui International Holdings Limited (“Shuanghui”) and Smithfield Foods, Inc. (“Smithfield”) announced on Friday that the companies have received notice from the Committee on Foreign Investment in the United States (“CFIUS”) that its national security review of the proposed acquisition by Shuanghui of Smithfield is complete. The Shuanghui transaction helps to confirm that even when there may be political or other concerns about a transaction, proper planning, anticipation of concerns, disclosure and cooperation can ensure the successful completion of the CFIUS process.