The UK Competition Authority finds no substantial lessening of competition in an acquisition in the treasury management advisory services (Sector Treasury Services / Butlers / ICAP)

Background On 31 March 2011, the Office of Fair Trading ("OFT") referred to the Competition Commission ("CC") for investigation and report under the Enterprise Act 2002 ("the Act") the completed acquisition by Sector Treasury Services Limited ("STS") of Butlers, a trading division of ICAP plc ("ICAP") which provided treasury management advisory ("TMA") services [1]. STS had completed its acquisition of ICAP's Butlers business on 25 October 2010; on completion, the Butlers business was integrated into STS' TMA business leaving Arlingclose Limited ("Arlingclose") and Sterling International Brokers Limited ("Sterling") as the other remaining providers of TMA services to UK local authorities under retainer contracts. Summary Following a referral to the CC, the CC is required to assess

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  • Herbert Smith Freehills (London)

Quotation

Dorothy Livingston, The UK Competition Authority finds no substantial lessening of competition in an acquisition in the treasury management advisory services (Sector Treasury Services / Butlers / ICAP), 31 October 2011, e-Competitions October 2011, Art. N° 48642

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