Inactive Instrument

CURS BANK

Equities

CBP

GB00BW0D4R71

Investment Management & Fund Operators

UK competition watchdog to probe Curtis Banks takeover by Nucleus

July 19, 2023 at 07:04 am EDT

(Alliance News) - The UK Competition & Markets Authority on Wednesday said it started a phase 1 investigation into the acquisition of Curtis Banks Group PLC, a Bristol-based provider of self-invested personal pension, by Nucleus Clyde Acquisition Ltd.

Nucleus Clyde is a company by Nucleus Financial Platforms Ltd, which offers online platforms to simplify the management of savings and investments. In January it offered to buy Curtis Banks for GBP242 million. In February, almost 100% of scheme shareholders voted in favour of the resolution to approve the acquisition.

The CMA is investigating whether the acquisition would weaken competition in UK markets for goods or services.

The involved parties have until August 2 to comment on the investigation. The regulator also invited comments on the transaction "from any interested party". The deadline for the CMA's phase 1 decision is September 14.

Curtis Banks shares were 1.9% lower at 309.00 pence each at midday Wednesday.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about CURS BANK

Nucleus Financial Platforms' Takeover of Curtis Banks Takes Effect	23-09-26	MT
Nucleus Financial Platforms Limited acquired Curtis Banks Group PLC from Oryx International Growth Fund Limited managed by Harwood Capital LLP, Odyssean Investment Trust PLC managed by Odyssean Capital LLP, Curtis Banks Directors and others.	23-09-25	CI
Zambeef to rationalise in Zambia; Nucleus owns Curtis	23-09-21	AN
English Court OKs Nucleus Financial Platforms' Curtis Banks Takeover	23-09-21	MT
FTSE 100 Closes Up 0.21% on Pound Weakness	23-09-07	DJ
UK Inflation Expectations Fall, Boosting Prospects for BOE Rate Pause	23-09-07	DJ
UK Gilt Yields Fall on Rising Expectations of a BOE Rate Pause	23-09-07	DJ
Curtis Banks takeover by Nucleus cleared by UK regulator	23-09-07	AN
FTSE 100 Falls After Weak Performance in Asian Markets	23-09-07	DJ
Curtis Banks Obtains Regulatory Approvals for Merger with Nucleus Financial Platforms	23-09-07	MT
Sterling Could Fall on Expectations of a BOE Rate Pause	23-09-07	DJ
London Stocks Seen Lower Tracking Falls in Asia	23-09-07	DJ
UK Competition Watchdog Drops Probe into Nucleus-Curtis Banks Deal	23-09-07	MT
FTSE 100 Rose 1.8% Led by Housebuilders on Signs of Slowing UK Inflation	23-07-19	DJ
UK Corporate Credit Distress Likely to Rise	23-07-19	DJ
UK competition watchdog to probe Curtis Banks takeover by Nucleus	23-07-19	AN
UK Competition Watchdog to Look Into Curtis Banks-Nucleus Merger Deal	23-07-19	MT
Marwyn Acquisition Names New CEO	23-06-06	MT
Marwyn Value subsidiary hires former Curtis chief as CEO	23-06-06	AN
Curtis Banks' Takeover By Nucleus Financial Platforms Expected to Close in Q3	23-05-16	MT
Curtis Banks Group PLC Reports Earnings Results for the Full Year Ended December 31, 2022	23-05-04	CI
Landore narrows loss; PYX forecasts "strong" growth	23-05-04	AN
Profits rise for Panther Securities and Petrofac	23-04-27	AN
FTSE 100 Closes Down 0.3% as Energy Struggles -2-	23-04-27	DJ
NatWest's 1Q Income, Profit Seen Rising by a -2-	23-04-27	DJ

Chart CURS BANK

Duration

Period

More charts

Company Profile

Curtis Banks Group PLC is a United Kingdom-based company engaged in the provision of pension administration services, principally for self-invested personal pension schemes (SIPPs) and small self-administered pension schemes (SSASs). The Company is also a provider of technology and complementary services for the advised retirement market, including financial technology, legal and property services. The Company operates through two segments: FinTech and Pension Administration. Its FinTech segment provides information technology (IT) software development, licenses, and consultancy services. Its Pension Administration operations are conducted within the United Kingdom. It manages more than 6,500 properties on behalf of thousands more clients. The Company's subsidiaries include Curtis Banks Limited, Suffolk Life Pensions Limited, Suffolk Life Annuities Limited, Rivergate Legal Limited, Dunstan Thomas Group Limited, and Talbot and Muir Limited.

Sector

Investment Management & Fund Operators

More about the company

Sector Collective Investment Fund Operators

	1st Jan change	Capi.
BLACKROCK ESG CAPITAL ALLOCATION TERM TRUST	+0.37%	1.65B
CFECAPITAL, S. DE R.L. DE C.V.	-1.32%	1.3B
MONTEIRO ARANHA S.A.	-1.09%	944M

Collective Investment Fund Operators