ECB Finalizes Guidance On M&A For Banking Consolidation

Law360, London (January 12, 2021, 4:44 PM GMT) -- The European Central Bank on Tuesday published its finalized guidance on its supervisory approach toward merger activity in the banking sector, setting out its expectations for banks regarding presenting credible plans and sustaining consolidations.

The guide outlines the supervisory process for assessing consolidation transactions, which can include the early communication, application and implementation phases of a consolidation.  

Consolidation refers to business combinations, such as mergers and acquisitions, but excludes intragroup transactions. Parties considering consolidation should engage with supervisors earlier on so they can get preliminary feedback on the projects, the watchdog said.

The ECB also encouraged parties to liaise with it...

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