ICAP PLC Statement on transaction with Tullett Prebon (3350J)

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RNS Number : 3350J

ICAP PLC

08 September 2016

ICAP plc - Statement regarding transaction with Tullett Prebon

London, 08 September 2016 - ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, notes the statement from the Competition and Markets Authority ("CMA") today in relation to the sale of ICAP's London-based voice/hybrid EMEA oil broking business (the "Oil Broking Business") to INTL FC Stone Ltd.

The CMA's confirmation that it has accepted the undertakings proposed by ICAP and Tullett Prebon to sell the Oil Broking Business means that the sale of ICAP's global hybrid voice broking and information business to Tullett Prebon plc ("Tullett Prebon") (the "Transaction") will not be referred to an in-depth Phase 2 investigation and has therefore been cleared by the CMA.

Completion of the Transaction remains subject to certain conditions, including regulatory approvals. ICAP shareholders are also being asked to vote to confirm their approval of the associated scheme and certain other steps to facilitate the Transaction, as described in a supplementary circular published on 17 August 2016, at a Court meeting and a general meeting to be held on 9 September 2016. ICAP remains focused on obtaining the necessary approvals and the Transaction remains on track to complete later this year.

Upon completion of the Transaction, the ICAP Group will trade as NEX Group plc, a focused electronic and post trade company with a leading portfolio of financial market infrastructure businesses and products.

Ends

 
 Contacts 
                      Head of Investor    +44 (0) 20 7050 
 Alex Dee              Relations           7420 
                                          +44 (0) 7951 057 
 Rebecca Mitchell/                         351/ +44 (0) 20 
  Andy Donald         Maitland             7379 5151

About ICAP

ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com

This information is provided by RNS

The company news service from the London Stock Exchange

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September 08, 2016 07:20 ET (11:20 GMT)

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