LONDON (ShareCast) - (Sharecast News) - Student accommodation provider Unite Group said on Wednesday that its £1.4bn acquisition of Liberty Living from the Canada Pension Plan Investment Board (CPPIB) has been unconditionally approved by the Competition and Markets Authority.
The deal is now expected to complete at the end of November.

Chief executive Richard Smith said: "We are delighted that our acquisition of Liberty Living has been approved by the CMA. This is a transformative acquisition which brings together the best of two companies with a wealth of expertise and experience in delivering for students and university partners.

"The enlarged group will be well positioned to meet the growing need for affordable, high quality student accommodation in university towns and cities where demand is strong. This, combined with our best-in-class operating platform, will mean more choice for universities and an enhanced service and welfare offer for students."

Under the terms of the deal, which was agreed in July, the CPPIB will take a 20% stake in the enlarged group upon completion.

Liberty Living offers student accommodation in 21 cities across the UK and Europe.

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