EC clears BNP Paribas’s acquisition of RBS’s IP&ED business

The European Commission has approved under EU merger regulation the acquisition of sole control by BNP Paribas of certain assets and liabilities related to the structured investment products and equity derivatives (IP&ED) business of Royal Bank of Scotland (RBS). According to the EC statement, the  assets acquired by BNP Paribas "consist in various financial instruments held by or entered into by RBS, including structured investment products, equity derivatives, hedges and related assets su