June 22, 2017 / 6:24 AM / a year 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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below