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US senator asks for CFIUS review of GNC purchase by Chinese company

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U.S. Senator Marco Rubio, a Republican and a China hawk, asked for a national security review of plans by General Nutrition Centers , or GNC, to ...

U.S. Senator Marco Rubio, a Republican and a China hawk, asked for a national security review of plans by General Nutrition Centers , or GNC, to sell itself to Harbin Pharmaceutical Group Co Ltd.

FILE PHOTO: Senator Marco Rubio asks a question during a Senate Foreign Relations Committee hearing on the State Department's 2021 budget, in the Dirksen Senate Office Building, in Washington, D.C., U.S., July 30, 2020. Greg Nash/Pool via REUTERSWASHINGTON: U.S. Senator Marco Rubio, a Republican and a China hawk, asked for a national security review of plans by General Nutrition Centers , or GNC, to sell itself to Harbin Pharmaceutical Group Co Ltd.

Rubio made the request in a letter to Treasury Secretary Steven Mnuchin. The department leads the inter-agency Committee on Foreign Investment in the United States.GNC has said it has agreed in principle with many lenders to sell itself to an affiliate of its largest shareholder, Harbin Pharmaceutical , for US$760 million in a court-supervised auction, subject to higher bids.

 

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