Sumo Group PLC (AIM:SUMO)’s takeover by China’s Tencent Holdings Ltd has been given the green light by the Committee on Foreign Investment in the United States (CFIUS).
The two parties are now moving towards completing the acquisition following the probe by the committee that began on 29 October.
The companies will still have to abide by certain arrangements that are designed to mitigate against the risks to US’ national security that CFIUS identified when investigating the acquisition.
Sumo has applied to the London Stock Exchange for the cancellation of its shares, which is planned to take effect from 18 January, following a scheme sanction hearing on 13 January.