On 23 January 2020, the European Commission announced that is has cleared the acquisition of newly created joint venture AB Mauri Yihai Kerry China Investment Holding Company Limited (AB Mauri Yihai Kerry China) by Associated British Foods (ABF) and Wilmar International Limited (Wilmar) (Case M.9574). This operation has been conducted through ABF's subsidiary, AB Mauri China Limited (ABM) and Wilmar's subsidiary, Yihai Kerry Arawana Holdings Co. Ltd. (YKA). The joint venture, a Chinese-based company, will be mainly active in the manufacturing, sales and distribution of yeast, bakery ingredients and bakery fats in China. ABF, a UK-based company, is active, among other sectors, in the production of baking ingredients. Wilmar, a Singaporean-based company, is active, among other sectors, in the cultivation of oil palms and the manufacturing of consumer products like fats. ABM, also a Chinese-based company, is also active in the production of yeast and bakery ingredients. YKA, also a Chinese-based company, invests mainly in the edible oils sector. The Commission found the proposed transaction would not raise competition concerns because the joint venture will have no assets or activities in the EEA.