GC
Shelved Ant-MoneyGram deal casts cloud over China M&A
Asia’s leveraged finance bankers started the year hopeful that volumes would pick up. However, US regulators have already undermined those hopes, blocking Ant Financial’s high-profile acquisition of local firm MoneyGram, calling into question the chances of further outbound deals from China. Shruti Chaturvedi reports.
Chinese fintech firm Ant Financial, a unit of Alibaba Group Holdings, said on Tuesday that it had cancelled its $880m acquisition of US money transfer business MoneyGram after the Committee on Foreign Investment in the United States (CFIUS), a watchdog that vets transactions for national security concerns, refused
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