Government Approves Acquisition Of Ultra Electronics By U.S. Private Equity Firm

The British government has approved the sale of Ultra Electronics to American private equity firm Advent International, reports Defense News.

The 2.6 billion pound (US$3.1 billion) acquisition was approved after Advent agreed to a list of conditions, including the creation of two separate legal entities encompassing Ultra facilities in the U.K. that deliver sensitive equipment to the British government, and the appointment of non-executive directors in the new entities to protect...