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Ant Financial to try again for U.S. approval of MoneyGram deal: source

Ant Financial to try again for U.S. approval of MoneyGram deal: source
From Reuters - September 15, 2017

(Reuters) - Chinese payments company Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International Inc (MGI.O) for $1.2 billion, a source familiar with the matter said on Friday.

Ant Financial and MoneyGram have already refiled for clearance from Committee on Foreign Investment in the United States (CFIUS) when they were unable to secure it within an assessment period after the first application, Reuters reported in July, citing sources.

We are not commenting on the CFIUS process, but we are continuing to work with the various regulatory agencies and remain focused on closing the transaction by the end of the year, the company said in a statement.

Ant Financials latest attempt for approval would be its third as the maximum time of 75 days for assessing such applications nears completion.

CFIUS is a secretive government panel which reviews acquisitions by foreign entities for potential national security risks.

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