May 30, 2018 / 10:40 AM / in 3 months

Standard Life Aberdeen sees extra 100 mln stg/year savings from Phoenix sale

LONDON, May 30 (Reuters) - Standard Life Aberdeen on Wednesday said it expected to save an extra 100 million pounds ($132.64 million) a year in ‘efficiency savings’ by 2020 after it completes the sale of its insurance business to Phoenix Group .

The company, which on Tuesday said it planned to return as much as 1.75 billion pounds to investors, said the savings would come as a result of its revised operating model and were in addition to cost synergies of 250 million pounds a year.

$1 = 0.7539 pounds Reporting by Simon Jessop; editing by Emma Rumney

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