Turkey grants regulatory clearance to Thales, Gemalto

Thales and Gemalto on Saturday announced that they have received antitrust Regulatory Clearance in Turkey.

The decision of the Turkish Competition Board, which was notified today to Thales, is effective as of 27 August 2018.

Together with the anti-trust clearance obtained in China and Israel, and clearances relating to foreign investments in Australia and Canada, Thales and Gemalto have obtained 5 of the required 14 Regulatory Clearances.

Thales and Gemalto continue to work constructively with the competent antitrust authorities to obtain the remaining Regulatory Clearances in Australia, for the European Union, in Mexico, in New Zealand, in Russia, in South Africa and in the United States.

In addition, Thales and Gemalto are seeking CFIUS approval in the United States and Regulatory Clearance relating to foreign investments from the competent authority in Russia.

As expected, the transaction should close shortly after all of the Regulatory Clearances have been secured which should occur before the end of 2018.

Further announcements will be made if and when a Regulatory Clearance has been obtained or the Offer Condition with respect to Regulatory Clearances is satisfied, waived or has become incapable of being satisfied, or as otherwise required by applicable law.

As announced on 10 August 2018, the Acceptance Period has been further extended by Thales in accordance with an exemption granted by the Dutch financial markets authority (AFM) and will end two weeks after the fulfilment of the Offer Condition with respect to Regulatory Clearances or the waiver thereof (but no later than the Long Stop Date).

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