Statement re transaction with ICAP

RNS Number : 3335J

Tullett Prebon PLC

08 September 2016

 

FOR IMMEDIATE RELEASE                                     

8 September 2016

Tullett Prebon plc

Update on the proposed acquisition of

ICAP's global hybrid voice broking and information business

Tullett Prebon plc ("Tullett Prebon") is pleased that the Competition and Markets Authority (the "CMA") has today announced that it has accepted the undertakings proposed by ICAP plc ("ICAP") and Tullett Prebon to divest ICAP's London-based EMEA oil desks to INTL FCStone Limited. As a result, the CMA will not refer Tullett Prebon's proposed acquisition of the global hybrid voice broking and information business of ICAP (the "Transaction") to an in-depth Phase 2 merger investigation and therefore the Transaction has been cleared by the CMA.

Completion of the Transaction remains subject to approval by various regulatory bodies including the FCA and satisfaction of other closing conditions.

Tullett Prebon remains confident that the Transaction is on track to close in 2016.

Enquiries

Alexandra Wick
Marketing & Communications, Tullett Prebon plc
Direct: [phone]
Email: [e-mail]
Kim Fletcher/Craig Breheny
Brunswick Group LLP
Switchboard: [phone]
Email: [e-mail]

 

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