LONDON (Reuters) – Chinese investors led by Shanghai Kington Technologies have abandoned an attempt to buy Welsh company Perpetuus Group, which specialises in graphene and nanomaterials, Britain’s government said after launching a security probe.
“The proposed acquisition has been abandoned,” British business minister Kwasi Kwarteng said in a statement on Twitter (NYSE:TWTR) about the deal.
“The UK Government monitors the market at all times to identify acquisitions of potential national security interest. We will intervene where necessary,” he added.
UK says Chinese buyers abandon purchase of Welsh graphene firm after security probe