BRUSSELS, March 15 (Reuters) - Private equity firm Cinven secured EU regul
atory approval on Thursday to acquire patent business CPA from Intermediate Capital Group (ICG).
Cinven unveiled the deal, which values CPA at 950 million pounds ($1.49 billion), in January.
Jersey-based CPA looks after the intellectual property of anything from software to recipes for cereals for customers from chemical engineering firms to pharmaceuticals and telecoms groups.
The European Commission said in a statement had no major competition concerns related to the acquisition.
'The Commission approved the transaction in particular because there is no overlap between the activities of CPA and any of the companies in the Cinven portfolio, and the limited vertical relationships which are existing between the parties are not capable to cause any anticompetitive effect,' it said. ($1 = 0.6376 British pounds)
(Reporting by Foo Yun Chee; editing by Rex Merrifield) Keywords: CPA CINVEN/EU
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