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Ant Financial refiles for US approval of MoneyGram deal

Approval is again being sought in the United States for the acquisition of  money transfer company MoneyGram International which has operations in several countries including Jamaica.
 
Ant Financial, the affiliate of  China's Alibaba Group Holding that agreed to buy MoneyGram for US$1.2 billion has resubmitted the deal for U.S. review.
 
The deal is the latest and most high-profile transaction to be refiled this year with the Committee on Foreign Investment in the United States, a government panel which reviews acquisitions by foreign entities for potential national security risks.
 
Sources say Ant Financial and MoneyGram refiled after they were unable to secure clearance from the panel within the maximum time of  75 days that is awarded for assessing applications.
     
     
     
  Refiling resets the clock and gives up to another 75 days for the companies to complete the national security review and try to resolve potential issues.


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