StockMarketWire.com - Military equipment maker Avon Rubber moved closer to completing its $130m acquisition of helmet group Team Wendy after a key condition of the deal was met.

The company received written confirmation from the US State Department that Team Wendy's registration under Part 122 of the international traffic in arms regulations had been cancelled, Avon Rubber said.

The acquisition remained conditional on other terms of deal either being satisfied or, if permitted, waivered.

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