Britain orders security investigation into Cobham-Advent deal

Britain orders security investigation into Cobham-Advent deal

Britain has ordered the competition regulator to investigate whether the agreed acquisition of defense company Cobham by U.S. private equity firm Advent International should be blocked due to national security concerns.

FILE PHOTO: A Eurofighter Typhoon jet lands after tests in Payerne
FILE PHOTO: A Eurofighter Typhoon jet lands in Payerne, Switzerland April 12, 2019. REUTERS/Denis Balibouse

LONDON: Britain has ordered the competition regulator to investigate whether the agreed acquisition of defense company Cobham by U.S. private equity firm Advent International should be blocked due to national security concerns.

Business minister Andrea Leadsom said on Wednesday she had issued a European intervention notice to intervene in the sale, which was approved by Cobham's shareholders on Monday.

"The CMA has until midnight at the end of 29 October 2019 to complete and submit this report to the Secretary of State," she said.

(Reporting by Kate Holton; editing by James Davey)

Source: Reuters

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