June 22, 2017 / 6:24 AM / 4 months ago

UK competition watchdog clears Standard Life-Aberdeen deal

(Reuters) - Britain’s competition watchdog said it had cleared Standard Life’s SL.L 11 billion pound ($14 billion) deal to buy Aberdeen Asset Management ADN.L, paving the way for the tie-up which will create the country’s biggest listed asset manager.

FILE PHOTO: A worker leaves the Standard Life House in Edinburgh, Scotland, Britain, February 27, 2014. REUTERS/Russell Cheyne/File Photo

The Competition and Markets Authority said on Thursday that it would not refer the deal for further investigation.

Standard Life and Aberdeen said in a statement that the deal, announced in March, is now expected to complete on August 14, subject to remaining regulatory approvals.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rachel Armstrong

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