CrestCo and Euroclear get all-clear from UK competition authorities

CrestCo and Euroclear get all-clear from UK competition authorities

European depositories CrestCo and Euroclear are expected to complete their merger later this month after receiving clearance under the UK Fair Trade Act.

On Monday, 16 September, the Secretary of State for Trade and Industry decided not to refer the merger to the Competition Commission in the UK, in accordance with the recommendation of the Director General of Fair Trading. The merger has also received overwhelming shareholder approval at the recent Extraordinary General Meetings held on 14 and 16 August.

The merger is expected to become effective later this month, following the sanctioning of the scheme of arrangement by the UK High Court.

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