Trust takeover approved

Competition regulator gives green light to Perpetual's takeover of Trust Co, subject to divestiture.

The Australian Competition and Consumer Commission says it won't oppose Perpetual's (PPT) takeover bid for financial services group The Trust Company (TRU).

In a statement, the competition regulator said it had accepted a court enforceable undertaking from Perpetual to divest Trust Co's existing ownership of a 13.4% shareholding in competitor Equity Trustees (EQT).


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