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Standard, Credit Suisse tie-up approved

Nov 24 2010 18:14 I-Net Bridge

Company Data

Standard Bank Group Ltd [JSE : SBK]

Last traded R113.00
Change R-0.10
% Change -0.09%
Cumulative volume 3.20m
Market cap R179.93bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - The Competition Tribunal on Wednesday approved without conditions the proposed merger between Standard Bank Group [JSE:SBK] and Credit Suisse Standard Bank Securities (CSSS).

In this transaction Credit Suisse will exit as a shareholder of CSSS and Standard Bank will acquire 50% of the issued ordinary share capital of CSSS from Credit Suisse.

CSSS is an institutional stock brokerage business and Standard is a financial services group.

The Competition Commission had assessed the proposed merger and recommended that the Tribunal approve it without conditions.

 
 
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