Stephanie Kirchgaessner reports that the U.S. Treasury is "...unlikely to pursue a request by senators to investigate [through the auspices of CFIUS - Ben] an attempt by the Children’s Investment Fund, a British hedge fund, to replace some members of the board of the rail operator CSX." (UK fund set to escape Cfius probe, Financial Times, June 11).
Snehal Amin, a partner at the fund (TCI), said in an interview with the Financial Times that the fund’s attorney had since January been in contact with Cfius, the committee that investigates foreign deals. The attorney had answered questions about the deal and offered to make TCI partners available to the committee.
But in a sign that the Treasury is unlikely to seek an investigation, the department has not requested a meeting or indicated that the hedge fund should submit the transaction for formal review.
For more background on this issue: CSX Plays the CFIUS Card (The Custom-House, June 10); For more on CFIUS in general: CFIUS.
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Posted by: mbt en france | September 09, 2011 at 10:47 PM