Phoenix: EU clears joint venture with Schroders

(CercleFinance.com) - The European Commission has approved the creation of a joint venture, Future Growth Capital Limited ('Griffin'), by Schroders and Phoenix Group Holdings ('Phoenix'), both based in the UK.


The transaction mainly concerns the fund management, insurance and pension finance sectors.

The Commission concluded that the notified transaction would not give rise to competition concerns, given that the joint venture has negligible activities in the European Economic Area and that the market positions of the companies resulting from the proposed transaction are limited.

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