Abderdeen becomes Europe's biggest independent fund manager

Aberdeen Asset Management is to become Europe’s biggest independent fund manager after striking a deal worth up to £660 million with Lloyds Banking Group.

Abderdeen becomes Europe's biggest independent fund manager
Mon, 18 Nov, 2013 - 08:50

Aberdeen Asset Management is to become Europe’s biggest independent fund manager after striking a deal worth up to £660m (€789m) with Lloyds Banking Group.

The takeover of Scottish Widows Investment Partnership will result in Lloyds holding a 9.9% stake in Aberdeen while the two companies will also form a long-term strategic partnership.

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CourtsBusinessHeathrowPlace: EuropePlace: AberdeenPlace: EdinburghPlace: UKPerson: AbderdeenPerson: Antonio Horta-OsorioPerson: Horta-OsorioOrganisation: Aberdeen Asset ManagementOrganisation: Lloyds Banking GroupOrganisation: Scottish Widows Investment PartnershipOrganisation: LloydsOrganisation: AberdeenOrganisation: SWIPOrganisation: MacquarieOrganisation: SchrodersOrganisation: Scottish Widows
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