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IN BRIEF: Curtis Banks takeover by Nucleus cleared by UK regulator

7th Sep 2023 12:07

Curtis Banks Group PLC - Bristol-based provider of self-invested personal pensions - UK Competition & Markets Authority allows acquisition of Curtis Banks by Nucleus Financial Platforms Ltd, which offers an online platforms for the management of savings and investments. The CMA says the deal "does not qualify for investigation" under UK competition law. In response, Curtis Banks says all regulatory and anti-trust approvals for its acquisition by Nucleus now have been satisfied. It will seek a court sanction for the scheme of arrangement on September 21. Last dealings in its shares on AIM will be on September 25 with full cancellation on September 27. Back in January, Nucleus agreed to buy Curtis Banks for GBP242 million.

Current stock price: 347.00 pence, up 5.2% in London midday Thursday

12-month change: up 33%

By Tom Waite, Alliance News editor

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