Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

Advent International Commits to Address UK Concerns Over $5B Cobham Deal

Jeff Brody

The U.K. government is likely to approve a deal for Advent International to acquire aerospace and defense contractor Cobham after the Boston-based private equity firm proposed several measures to address potential national security risks from the combination, Reuters reported Tuesday.

Andrea Leadsom, U.K. business minister, said Tuesday she is leaning towards clearing the transaction after Advent presented several commitments, such as appointing a number of British executives to Cobham’s board and informing the U.K. defense ministry if it plans to divest Cobham or part of the company’s business.

“No decision will be taken on whether to accept the undertakings until the consultation has closed and the representations have been carefully considered,” Leadsom said in a statement. The consultation process on the proposals would run through Dec. 17.

Advent agreed to buy Cobham for approximately $4.99B, including debt, in July. Shareholders also approved in September the transaction, which already has secured clearance from regulators in the U.S., European Union and Finland.

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles