Pay TV industry infrastructure giant Arris’s proposed acquisition of UK set-top provider Pace has received preliminary approval, without restrictions, from Brazil’s competition authority CADE, clearing the way for completion of the deal.
The Brazilian clearance is expected to become final on December 19,, following Brazil’s mandatory appeals period. When finalized, the approval will complete the merger-control clearances required for the transaction. Arris expects to close the deal in early January 2016 following the Brazilian clearance becoming final and the sanctioning of the scheme of arrangement by the Companies Court in the UK.
Earlier this week, the US Department of Justice closed its investigation, without condition, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 of the acquisition. Arris and Pace have previously received the required clearances from regulators in Colombia, Germany, Portugal and South Africa.
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23 October 2020 @ 09:29:38 UTC