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Capital & Counties Properties PLC's acquisition of Shaftesbury PLC's is to be sealed in the first quarter of next year, as a UK watchdog is yet to begin a probe on the deal.
Capco and Shaftesbury are currently involved in "customary pre-notification discussions" with the UK's Competition & Markets Authority.
"Given this process, the CMA has not yet commenced its phase 1 review and therefore the merger is now expected to become effective during the first quarter of 2023," CapCo said.
Shaftesbury and Capco sealed a merger deal in June.
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