Hong Kong Exchanges and Clearing Limited (HKEx) announced Wednesday that the ordinary shareholders of The London Metal Exchange Limited (LME) approved all the resolutions required to implement the acquisition of LME by HKEx.

HKEx said in June that it intended to buy the LME for 16.673 billion HK dollars ($2.1 billion). In a filing to the stock exchange, HKEx said it offered to buy the LME's 12.9 million shares at 1,292.55 HK dollars per share.

HKEx said it was "pleased" about the approval at a court meeting and an extraordinary general meeting of LME on Wednesday.

Following the meeting, HKEx Chief Executive Charles Li and LME Chief Executive Martin Abbott made statements regarding the vote.

Charles Li said, "I'd like to thank the shareholders of the LME for their support in welcoming this acquisition. Our shared vision for global leadership in the commodities market will allow us to respectfully build on the proud heritage of this unique institution. HKEx's ability to help the LME grow its business in Asia and beyond provides significant opportunities for both parties and will deliver value for all of our stakeholders."

Martin Abbott said, "I am delighted that our shareholders have overwhelmingly supported the board's recommendation. The deal with HKEx, Asia's leading exchange, will secure the LME's position as the world's foremost metals trading venue."

According to HKEx, the transaction is expected to be completed in the fourth quarter of 2012, after the approval from LME shareholders, UK Financial Services Authority and UK Court Sanction for scheme of arrangement.

Established in 1877 and located in the City of London, the London Metal Exchange offers a range of futures and options contracts for non-ferrous, minor metals and steel. It is the world 's largest base metals futures market with 80 percent of all base metals forward and options contracts.

HKEx was listed in Hong Kong in 2000 and is now one of the world's largest stock exchange owners measured by market value.