The High Court of Justice of England and Wales issued an order confirming the reduction of Xstrata’s share capital.

Xstrata’s London listing is expected to be cancelled by today, while the cancellation of its Swiss listing should take effect on Monday.

It comes after the companies received British court approval for the $A51 billion deal last Monday after a number of regulatory delays.

Prior to Monday’s announcement, Chinese government approval was the final regulatory hurdle to the merger.

The Chinese Ministry of Commerce gave the merger the nod, subject to several commitments being met – the most significant being the sale of the $US5.2 billion Xstrata Las Bambas copper development project in Peru by September 30 next year.

Xstrata chief executive officer Mick Davis, who was to head up the merged company for six months, also announced he would step down upon completion of the merger, allowing Glencore CEO Ivan Glasenberg to assume the role of CEO of the combined group.

“My executive team and I are pleased to hand over to the new Glencore Xstrata a company with a strong legacy for value creation and growth, a high quality portfolio of operations and growth options, supported by a very healthy balance sheet,” Davis said last month.

Davis will still be entitled to six months of pay and entitlements equating to 4.6 million pounds, in addition to the previously agreed sum of a year’s salary, 2011 bonus and other benefits and pension.

He will act as a consultant until the end of June, though will not be paid consultancy fees – instead he will be entitled to up to 30 hours of private use of an Xstrata aircraft.

Davis will take a sub-lease of Almack House, Xstrata’s former London offices, until March 15, 2017, at the same rent Xstrata pays, with a rent-free period up to the end of March next year, though he will pay the company the book value of the furniture and IT equipment at the end of the lease.

Trevor Reid will no longer take up his role of chief financial officer, while a number of other key executives will also join the exodus.

Brisbane-based Xstrata Copper CEO Charlie Sartain will depart, as will Xstrata Nickel CEO Ian Pearce and Xstrata Alloys interim CEO Loutjie Smit.

Xstrata strategy and corporate affairs executive general manager Thras Moraitis and chief legal counsel Benny Levene will also step down but will act as consultants for up to six months.

The new Glencore Xstrata International will begin trading in London and Hong Kong today.