The CMA to investigate OSB Charter Court merger

Michael Lloyd

June 5, 2019

The Competition and Markets Authority (CMA) will investigate the merger of OneSavingsBank (OSB) and Charter Court Financial Services.

The CMA has set a deadline of 19 June for those interested to submit comments and then will assess everything before coming to a decision.

In March both Charter Court and OBS approved the proposed merger and a statement said they would continue to operate under separate brands, with OBS shareholders owning 55% of the combined group and Charter Court stakeholders 45%.

A merger of OneSavings Bank, which owns Kent Reliance and Charter Court, parent group of Precise Mortgages, would create a lender worth more than £1.6bn.

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