Competition watchdog clears £242m Curtis Banks/Nucleus deal

Latest update from business released on 7 September

Jenna Brown
clock • 2 min read

Nucleus’ acquisition of Curtis Banks Group, in a deal worth £242m, has been cleared by the Competition and Markets Authority (CMA).

In a note to the stock exchange, Curtis Banks confirmed the deal would proceed after the CMA said an investigation under the Enterprise Act 2002 was not warranted. The CMA's review of the deal was first announced in July. Nucleus also confirmed the Financial Conduct Authority, Prudential Regulation Authority and Solicitors Regulation Authority have all issued their approval of the acquisition. In January Curtis Banks, primarily a self-invested personal pension (SIPP) provider, agreed to the takeover by Nucleus. Shareholders in the self-invested personal pension business will get 350p ...

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