On 21 October 2022, UK CMA consented to derogation from 21 December 2021, initial enforcement order on takeover by NEC Software Solutions UK Limited of SSS Public Safety Limited and Secure Solutions USA LLC (previously part of Capita plc).
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Singapore – MAS Takeover / Merger Code Waiver
On 7 October 2022, SIN MAS issued takeover code waiver for unlisted public companies. SIN MAS Securities industry council issued a practice statement on the application waiver of the Singapore code on takeovers and mergers to unlisted public companies. Overview Code applies to unlisted public companies incorporated in Singapore with more than 50 shareholders and…
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Germany – GVT Takeover of Uniper Energy
On 30 September 2022, GE GVT announced the takeover of energy company Uniper. GE GVT took over energy company Uniper securing energy supply in the country. Follows GE GVT September 2022 agreed comprehensive stabilization package. Overview Uniper is largest German importer of Russian gas, currently in acute financial distress. GE GVT has taken over 99%…
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U.K. – CMA NEC Software/Capita Takeover
On 27 September 2022, UK CMA updated the administrative timetable for its in-depth investigation of the takeover by NEC Software Solutions UK Limited of SSS Public Safety Limited and Secure Solutions USA LLC (previously part of Capita plc). Extended the deadline for the final phase 2 decision from 26 October to 21 December 2022.
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U. K. – FCA Takeover of Link Group
On 21 September 2022, UK FCA gave an update on its proposed enforcement action against Link Fund Solutions Ltd (LFS), following September 12 Link Group announcement to ASX. Link Group statement confirmed FCA issued LFS with a draft warning notice. Warning notice gives recipient an opportunity to resolve the case by agreement. The draft warning…
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U.K. – CMA NEC Software/Capita Takeover
On 16 September 2022 UK CMA provisionally found competition concerns. UK CMA provisionally found competition concerns as part of its in-depth investigation of the completed takeover by NEC Software Solutions UK Limited of SSS Public Safety Limited and Secure Solutions USA LLC (previously part of Capita plc). Follows UK CMA January 2022 probed NEC software…
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