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FNZ / GBST merger inquiry

Competition Markets Authority

December 5
11:00 2019

Statutory timetable

Phase 1 Date Action
TBC Deadline for phase 1 decision*
TBC Launch of merger inquiry
14 November 2019 Initial enforcement order

(*) This date is the current statutory deadline by when the decision will be announced. If any change occurs, the information is refreshed as soon as practicable. However, the CMA cannot guarantee that the decision will be announced on or before this current deadline, as the deadline of a given case may change during the merger assessment process due to different reasons.

Phase 1

Directions to appoint a monitoring trustee

3 December 2019: Pursuant to an initial enforcement order dated 22 November 2019, the CMA directed FNZ (Australia) Bidco Pty Ltd, FNZ (UK) Ltd and Kiwi Holdco CayCo Ltd to appoint a monitoring trustee.

Re-issue of initial enforcement order

22 November 2019: The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002, in relation to the completed acquisition by FNZ (Australia) Bidco Pty Ltd of GBST Holdings Limited.

Amendments/consents granted

Revocation order

22 November 2019: The Competition and Markets Authority (CMA) has made a Revocation Order under section 72(4) of the Enterprise Act 2002 in relation to the completed acquisition by FNZ (Australia) Bidco Pty Ltd of GBST Holdings Limited. This Order revokes the initial enforcement order that the CMA imposed on 14 November 2019 and is without prejudice to the CMAs ongoing investigation into the acquisition.

Initial enforcement order

14 November 2019: the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on FNZ (UK) Ltd, Kiwi Holdco CayCo Ltd and FNZ (Australia) Bidco Pty Ltd in relation to the completed acquisition of GBST Holdings Limited by FNZ (Australia) Bidco Pty Ltd.

Contact

Please send written representations about any competition or public interest to:

Marc Freedman
Competition and Markets Authority
The Cabot
25 Cabot Square
London
E14 4QZ

Marc.Freedman@cma.gov.uk

Published 18 November 2019
Last updated 5 December 2019 +show all updates
  1. Directions to appoint a monitoring trustee and derogations published.
  2. Revocation order and re-issue of initial enforcement order published.
  3. First published.

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