Scaramucci awaits U.S. approval for China
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[July 22, 2017]
NEW YORK (Reuters) - Anthony
Scaramucci, the Trump administration's new communications director, has
yet to get approval from U.S. regulators to sell his hedge fund firm to
a group led by Chinese conglomerate HNA, according to a person familiar
with the matter.
Scaramucci agreed in January to sell SkyBridge Capital LLC to clear the
way for a job working with U.S. President Donald Trump. That role
finally materialized on Friday when Trump shook up his administration,
prompting the resignation of White House spokesman Sean Spicer.
But the sale of SkyBridge has yet to get the green light from the
Committee on Foreign Investment in the United States (CFIUS), which
reviews acquisitions by foreign entities for potential national security
Many of the heads of the government departments and agencies comprising
CFIUS are political appointees, and it is chaired by Treasury Secretary
Scaramucci told Reuters in May that he expected the sale of SkyBridge to
get U.S. regulatory approvals in June.
A representative of SkyBridge did not respond to a request for comment
Reuters reported this week that CFIUS has become increasingly reluctant
to approve deals. The president has the power to veto recommendations
made by CFIUS although this has never happened before.
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New White House Communications Director Anthony Scaramucci, flanked
by White House Press Secretary Sarah Sanders, speaks at the daily
briefing at the White House in Washington, U.S. July 21, 2017.
HNA is among a number of acquisitive Chinese firms currently under a
spotlight in China over the potential risks from domestic companies
going on overseas buying sprees.
Best known as the owner of Hainan Airlines Co <600221.SS>, HNA group
plans to acquire a majority stake in SkyBridge through its financial
arm HNA Capital as part of an expansion into asset management.
Scaramucci told Reuters in May that he had, separate from the sale
of his business, discussed partnerships with HNA.
(Reporting by Greg Roumeliotis. Additional reporting by Jennifer
Ablan. Writing by Carmel Crimmins; Editing by Shri Navaratnam)
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