The Financial Conduct Authority (FCA) will allow the proposed acquisition of LV= to Bain Capital to progress to member voting.
The regulator stated today (26 October) that it has provided its non-objection to the agreement moving to the next stages, which include a member voting requiring Court approval. LV= is now able to progress to a member vote on the overall takeover by Bain Capital, which, should members approve, be followed by a second vote on changes to LV='s Articles of Association via a Scheme of Arrangement (subject to Court approval), which is necessary to enable the planned insurance business transfer to a Bain Capital-controlled entity. In a letter published for interested stakeholders, the FCA ...
To continue reading this article...
Join COVER for free
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.