China's Ant Financial abandons MoneyGram acquisition
Alibaba Group’s Ant Financial has abandoned its $1.2 billion acquisition of private equity-backed MoneyGram after failing to receive clearance from the Committee on Foreign Investment in the US (CFIUS).
MoneyGram – which is US-listed but counts Thomas H. Lee Partners (THL) as its largest shareholder – said that “extensive efforts” had been made to address the committee’s concerns. CEO Alex Holmes...
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