UK blocks Versarien asset sale to Chinese-linked joint venture on security grounds

LONDON (Reuters) -Britain blocked the proposed acquisition of graphene-related assets owned by Versarien Plc by a joint venture involving China's Anhui Boundary Innovative Materials Technology, citing national security concerns.

The final order, made by senior minister Pat McFadden and published in an update on the government's website, prevents the transfer and use of both tangible and intangible assets, including intellectual property and know-how with potential dual-use applications.

"The Chancellor of the Duchy of Lancaster (McFadden) considers that the provisions of the final order are necessary and proportionate to prevent, remedy or mitigate the risk to national security...," the notice said.

(Reporting by Sam Tabahriti;Editing by Elaine Hardcastle)