Advent Gets EU OK For €2.4B Morpho Buy With Divestitures

Law360, Los Angeles (April 19, 2017, 5:25 PM EDT) -- Advent International Corp. won a vital nod Wednesday from the European Commission for its proposed €2.4 billion ($2.57 billion) purchase of French security solutions provider Morpho after agreeing to split off a payment card element of Morpho’s business to minimize the acquisition’s effect on competition in that market.

The EC cleared the proposed deal under its European Union Merger Regulation after concluding that the companies’ plan to divest a Morpho subsidiary that supplies and personalizes certain payment smart cards for banking customers in France, according to...
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