The acquisition of Charter Court Financial Services Group plc by OneSavings Bank plc looks set to go ahead following a Competition and Markets Authority (CMA) decision.
Following the deal announcement in March 2019 by the two businesses’ boards, the CMA had to rule whether the deal would be subject to a reference under sections 22 or 33 of the Enterprise Act 2002.
The CMA has now announced that it does not intend to refer the deal under the provisions of the Enterprise Act 2002 and that the CMA’s clearance was unconditional.
Completion of the deal remains subject to other outstanding conditions, including receipt of regulatory approvals from the FCA and PRA.