Engineering group’s £1bn takeover talks end
The £1bn takeover of engineering group Doncasters by a Chinese billionaire has been halted.
The proposed sale to Beijing Xinwei, which is controlled by Wang Jing, has been in the public domain for six months but caused concerns in the US and UK about security. Doncasters' defence business makes parts for weapons launch systems.
The group's owner, Dubai International Capital (DIC), has now called off the deal, Sky News has reported. It attributed part of the reason to indications that the US would not approve the sale.
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