The proposed £11bn merger of Standard Life and Aberdeen Asset Management has received the go-ahead from the UK’s Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
The deal is expected to be wrapped up on 14 August 2017, subject to regulatory approvals in other jurisdictions and final court approval.
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The deal received the approval from the nation’s Competition and Markets Authority (CMA) and shareholders last month.
The merger, announced in March 2017, will lead to the creation of a new entity dubbed Standard Life Aberdeen. The new group will oversee £660bn in assets and will be jointly led by Standard Life CEO Keith Skeoch and Aberdeen CEO Martin Gilbert.
In May 2017, the companies also revealed plans to slash 800 jobs as part of the merger.
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