The High Court of England and Wales approved the transaction on Wednesday, and the Financial Services Authority of the United Kingdom also approved the transaction last week.
In July, HKEx won the support of LME members (also its shareholders) for the above transaction, and repelled the fierce competition from Chicago Mercantile Exchange Group Corporation, NYSE Liffe, a London derivative subsidiary of NYSE Euronext, and IntercontinentalExchange Inc After several months of bidding, LME finally chose HKEx as its preferred buyer, the key reason being that it would enable LME to better contact the Asian market, especially the world's largest metal consumption.
Li Xiaojia, chief executive of HKEx, told the Chinese website of The Wall Street Journal that since Thursday, LME has officially become a subsidiary of HKEx Group, and HKEX is happy about this, and will rely on its relationship with LME and its own professional knowledge to consolidate its strong global position. I believe this cooperative relationship will bring great benefits in the long run.
Martin Abbott, CEO of LME, and Brian Bender, Chairman of LME, will remain as directors of LME Holdings, while Zhong Kang Zhou, Romnesh Lamba and Li Xiaojia will join the board of directors of LME Holdings.
China Industrial and Commercial Bank announced on Wednesday that it has completed the transaction of acquiring 80% shares of three companies including Argentine Standard Bank from South African standard bank group ltd Limited. It is estimated that the total transaction price will not exceed $650 million.
The announcement pointed out that after the completion of this transaction, the parties to the transaction will also adjust the consideration paid on the delivery date to reflect the increase or decrease of the net asset value of each target company from 20 10 12 3 1 to the delivery date, and determine the final transaction price according to the adjustment results.
Standard Bank of Argentina was originally a fully licensed subsidiary of Standard Bank of South Africa in Argentina. 20 1 1 At the end of the year, Standard Bank of Argentina had total assets of USD 3.8 billion, net profit of USD 84.4 million, return on assets of 2.4%, return on capital of 25. 1%, and non-performing loan ratio of 65.438+0.2%.