October 29, 2019 / 12:24 PM / 19 days ago

Advent wins EU approval for Cobham deal, still waiting for UK nod

LONDON (Reuters) - U.S. private equity firm Advent International said it had won approval from European Union, U.S. and Finnish regulators for its $5 billion acquisition of British defense company Cobham (COB.L), as it continues to wait for U.K. approval.

Britain has intervened in the deal on national security grounds and its regulator, the Competition and Markets Authority, is due to give the results of its investigation on the matter to the business minister on Tuesday.

Advent said in a statement that it continued to work to win government approval. Shareholders backed its takeover of the air-to-air refueling specialist in September.

“Advent continues to be positively engaged with the UK Government to demonstrate its commitment to providing assurances which reflect good custodianship of Cobham,” the private equity firm said.

Reporting by Sarah Young; editing by Kate Holton

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