The EU has approved Cinven's proposed acquisition of McKechnie, the UK engineering firm.

Cinven made an offer for the company in August through a special purpose vehicle, BlueAzure. The offer, which values McKechnie at around £430 is backed by a debt financing package arranged by Deutsche Bank, Morgan Stanley Dean Witter and UBS Warburg.

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EU approves Cinven's McKechnie buy-out

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