date:Nov 05, 2012
Nestle SA's (NESN.VX) $11.9 billion purchase of Pfizer Inc's (PFE.N) baby food business has won approval in China, taking the Swiss group a step towards sealing a deal which still rests on months of bargaining with antitrust authorities.
Asked whether Chinese regulators had cleared the transaction, Chief Executive Paul Bulcke said: It was just this week.
Nestle is acquiring Pfizer's infant nutrition unit to combine it with its existing infant formula business.
Bulcke, speaking on the sidel