Sign up for free newsletter

 

Approved stamp

FSA approves LME acquisition by HKEx


The Financial Services Authority has granted approval for the acquisition of LME Holdings by Hong Kong Exchanges and Clearing (HKEx).

The proposed takeover, which was first announced in June and approved by LME Holdings shareholders in July, will see HKEx Investment, a wholly-owned subsidiary of HKEx, acquire LME Holdings in a deal valued at over GBP1.38bn.

The FSA has now given notice in writing under section 301G(3) of the Financial Services and Markets Act 2000 of its approval “such that condition 1(a) contained in Part III of the scheme document relating to the Transaction dated 9 July 2012 (the "Scheme Document") has been satisfied”.

If conditions are satisfied, the transaction is expected to become effective on or around 6 December 2012. If the scheme has not become unconditional and effective by the longstop date, the scheme will lapse and the framework agreement may be terminated, in which case the acquisition will not proceed.

events
1 day 59 min from now - Paris
2 days 59 min from now - New York
1 week 2 days from now - Abuja
2 weeks 2 days from now - London
3 weeks 59 min from now - London
training
Mon, 15/05/2017   - London
Mon, 15/05/2017   - London
Mon, 15/05/2017   - London
listingsdirectory
IKONIC Fund Services Ltd.
Tue, 29/11/2016 - 12:28
Backstop Solutions Group
Tue, 08/11/2016 - 18:44
The Gemini Companies
Mon, 17/10/2016 - 12:51
specialreports
other gfm publications