Chinese conglomerate HNA Group’s planned $416 million investment in a US in-flight entertainment and Internet-services provider collapsed after the two companies failed to get approval from Washington, in a setback for the acquisitive group.

The proposal for HNA’s Beijing Shareco Technologies to invest in Global Eagle Entertainment Inc. was terminated after failing to obtain the go-ahead from the Committee on Foreign Investment, Global Eagle said in a regulatory filing late on Tuesday US time. The investment was first announced in November.

“On July 25, 2017, the Company and Shareco terminated the Shareco Investment Agreement as a result of the parties’ inability to obtain the required approval of the Committee on Foreign Investment in the United States (CFIUS) prior to the outside date under the Shareco Investment Agreement,” Global Eagle said.