Chinese instant noodle and beverage maker Tingyi Holdings Corp expects to receive approval from Chinese regulators for its tie-up with PepsiCo Inc as early as March, Tingyi's parent company said in Taipei Wednesday.
PepsiCo agreed to sell its interest in 24 soft drink bottlers in China to Tingyi in November, a move seen as an acknowledgment that its strategy in China was not working.
"We should be able to hear some good news next month," Ting Hsin International Group chairman Ying Chiao Wei said at an economic forum in Taipei. "If the deal gets approved in March, we'll be able to merge very soon and it will help our sales growth a lot."