CMA clears Capco/Shaftesbury merger

West End landlords Capital & Counties and Shaftesbury said on Wednesday that the Competition and Markets Authority has cleared their £3.5bn merger.

The merger is now expected to complete on 6 March.

The companies announced last June that they had agreed an all-share merger that would create a combined group with a portfolio valued at around £5bn.

The combined group's portfolio will comprise approximately 670 predominantly freehold buildings with around 2.9m square feet of lettable space across 2,000 commercial and residential units.