UK approves TransDigm-CPI deal subject to national security condition

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LONDON, Feb 28 (Reuters) - Britain on Wednesday approved TransDigm's TDG.N acquisition of U.S.-based Communications & Power Industries (CPI), subject to the condition that CPI's UK research and manufacturing capabilities in relation to atomic clocks remain in the country.

Britain said in a statement it had made the provision to the deal, which refers to CPI's owner as Iceman Holdco, under the National Security and Investment Act.

(Reporting by Muvija M; Writing by Sarah Young; Editing by Sachin Ravikumar)

((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net))

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