Daily Management Review

‘Competition and Markets Authority’ of Britain Intervenes in Aerospace Sale of Better Capital


07/11/2018


The proposed sale transaction between Better Capital & Chinese firm see a lapse.



Better Capital PCC Ltd, a private “equity firm” in the United Kingdom reported about the sale of its “Northern Aerospace Ltd” had not been successful. The prospective buyer was a Chinese, while the “competition regulator” of Britain did not provide a seal of approval on this transaction.
 
Last month, the “Competition and Markets Authority” started to carry out an investigation on the sale proceeds of the “airplane parts maker”. The buyer in question was a unit of “Shaanxi Ligeance Mineral Resources Co.” from China. The probe began after the authority issued an “intervention notice” which in turn put a halt to the disposal.
 
According to the company’s statement:
“Permission to complete the sale was not obtained from the Competition and Markets Authority by the revised contractual deadline, despite requests for such permission by both parties”.
“Accordingly the proposed transaction has lapsed.”
 
References:
reuters.com







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