FCA gives green light to next stage of LV= demutualisation

Confirmation of non-objection from regulator

John Brazier
clock • 2 min read
FCA gives green light to next stage of LV= demutualisation

The Financial Conduct Authority (FCA) will allow the proposed acquisition of LV= to Bain Capital to progress to member voting.

The regulator stated today (26 October) that it has provided its non-objection to the agreement moving to the next stages, which include a member voting requiring Court approval. LV= is now able to progress to a member vote on the overall takeover by Bain Capital, which, should members approve, be followed by a second vote on changes to LV='s Articles of Association via a Scheme of Arrangement (subject to Court approval), which is necessary to enable the planned insurance business transfer to...

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