Aug 15 International Business Machine Corp
said on Friday that the Committee on Foreign Investment
in the United States (CFIUS) has approved the sale of its
low-end server business to Lenovo Group Ltd
In January, China's Lenovo Group has agreed to buy IBM's
X86-based server business for $2.3 billion in what would be
China's biggest technology deal.
CFIUS, an interagency group chaired by the Treasury
Secretary, reviews deals that could bring U.S. businesses under
foreign ownership and is required by law to assess any
transaction involving a state-owned firm.
"Lenovo can confirm reports that CFIUS has cleared its
transaction to acquire IBM's x86 server business and the
companies have completed the regulatory process in the United
States," Lenovo spokesperson said in an email.
(Reporting By Lehar Maan in Bangalore; Editing by Maju Samuel)