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FSA confirms Chelsea merger with Yorkshire

The FSA has confirmed the proposed transfer of Chelsea Building Society to the Yorkshire Building Society.  

In December the two firms agreed to merge to create the UK’s second-largest mutual.

The move is expected to be completed by April 2010 and will create an enlarged Society with assets of £35bn.

The new entity will have 2.7 million members and a national network of 178 branches.

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