eOne Scores Approval for Alliance Films Purchase

TORONTO: Entertainment One (eOne) has received clearance from the Canadian Competition Bureau regarding its acquisition of Alliance Films.

In September, eOne announced its intention to purchase the company from GS Capital Partners and Investissement Québec for C$225 million ($229 million). One of the conditions on the acquisition was the go-ahead from the Canadian Competition Bureau. The company released a statement today that said that the applicable waiting period under the Canadian Competition Act has expired, therefore, "the company is now clear to complete the acquisition, which it intends to do as soon as possible."