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Thales' Gemalto acquisition gets Turkish antitrust clearance

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Thales' Gemalto acquisition gets Turkish antitrust clearance

French aerospace and defense giant Thales SA's proposed acquisition of Dutch digital security firm Gemalto NV has received antitrust regulatory approval from the Turkish Competition Board, the two companies said Aug. 31.

Thales and Gemalto have now obtained five of the 14 regulatory clearances required for the deal, including earlier antitrust clearances in China and Israel, and clearances relating to foreign investments in Australia and Canada.

The two companies still need to secure regulatory clearances in Australia, the EU, Mexico, New Zealand, Russia, South Africa and the U.S. They are also seeking approval from the Committee on Foreign Investment in the U.S. and working to obtain regulatory clearance relating to foreign investments in Russia.

The transaction is expected to close before the end of 2018, shortly after receiving all regulatory clearances, the companies said.