23rd Nov 2015 07:56
LONDON (Alliance News) - Retirement products providers Just Retirement Group PLC and Partnership Assurance Group PLC on Monday said their proposed merger will now completed in early January, rather than in late December as originally anticipated.
The pair, which will merge to former JRP Group PLC, said a decision on Just Retirement's Solvency II Internal Model application is due from the Prudential Regulation Authority, the UK financial regulator, in the first half of December.
As a result, they will post their shareholder circulars on the proposed merger after this process is complete, meaning they now expect the merger to complete in early January. They said they expect to hold court and general meetings to approve the deal on January 5.
The pair agreed to a GBP1.66 billion merger back in August.
Just Retirement will hold its annual general meeting midday Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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