Post-Brexit rules to make M&A and restructuring deals trickier

摘要

The UK's position as the cross-border deal capital of Europe could be dented as advisers grapple with extra procedures surrounding competition clearance and debt restructurings that came in when Brexit took effect at the start of this year.The UK left the European Union a year ago but remained subject to existing EU rules governing anti-competitive behaviour until the end of the transition period on December 31. Those rules required mergers above a certain size to be cleared by EU authorities.Now, major transactions involving multinational entities active in the UK must comply with a new UK competition system as well as the existing EU one. And large restructurings done in the UK will need to be recognised in the EU as well before they can go ahead.