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India

Phoenix Group Holdings (PHNX.L)

PHNX.L on London Stock Exchange

750.00GBp
15 Dec 2017
Change (% chg)

7.00 (+0.94%)
Prev Close
743.00
Open
740.50
Day's High
750.00
Day's Low
740.00
Volume
1,055,096
Avg. Vol
816,071
52-wk High
817.48
52-wk Low
710.50

Latest Key Developments (Source: Significant Developments)

Phoenix Group says Prudential Regulation Authority approves Abbey Life deal
Tuesday, 13 Dec 2016 

Phoenix Group Holdings : Regulatory consent - Abbey Life Acquisition . Announces that Prudential Regulation Authority has consented to acquisition of Abbey Life Assurance Company Limited .Completion of acquisition is expected to take place on 30 December 2016.  Full Article

Phoenix Group completes acquisition of AXA business
Tuesday, 1 Nov 2016 

Phoenix Group Holdings : Completion of the AXA business acquisition .Announces completion of acquisition of AXA Wealth's pensions and protection businesses.  Full Article

Phoenix Group to buy Abbey Life 935 mln pounds
Wednesday, 28 Sep 2016 

Phoenix Group Holdings : Proposed acquisition of Abbey Life . Consideration of 935 mln stg in cash payable on completion . Consideration and estimated expenses to be financed through fully underwritten rights issue to raise 735 mln stg, 250 mln stg new bank facility . Acquisition to add 10 bln stg of assets under management and approximately 735,000 policyholders . Attractive price representing 0.89x multiple of solvency II own funds and 0.77x of MCEV . Acquisition will support a proposed increase in dividends in respect of 2017 to 197 mln stg . Acquisition expected to generate about 0.5 bln stg of aggregate cashflows between 2016 and 2020 . Completion of acquisition by end of 2016, subject to regulatory approvals .Acquisition also expected to generate cashflows of about 1.1 bln stg in aggregate from 2021 onwards.  Full Article

UK's CMA not to refer AXA-Phoenix deal for further investigation
Tuesday, 2 Aug 2016 

UK's CMA (Competition and Markets Authority) :Has decided, not to refer following Phoenix Group Holding merger with AXA Sunlife and Embassy business to a Phase 2 investigation.  Full Article

UK's CMA probes Phoenix's purchase of UK life and savings business from AXA
Monday, 4 Jul 2016 

Competition and Markets Authority (CMA):UK's CMA says it is investigating the completed acquisition by Phoenix Group Holdings of Sunlife and Embassy businesses (currently owned by AXA UK Plc).  Full Article

Phoenix Group says raises about 194 mln stg via placing
Friday, 27 May 2016 

Phoenix Group Holdings :A total of 22.54 mln shares have been placed at a price of 860 pence per share raising gross proceeds of about 193.9 mln stg.  Full Article

Phoenix Group to buy AXA's UK wealth business for 375 mln stg
Friday, 27 May 2016 

Phoenix Group Holdings : Acquisition of AXA Wealth Businesses . Has entered into conditional agreements with AXA UK Plc to acquire AXA Wealth's pensions and protection businesses . Consideration of £375 million in cash payable on completion . Acquisition to add £12.3 billion of assets under management and over 910,000 policies .Consideration funded from an equity placing and a new short-term debt facility.  Full Article

Phoenix Group says on track to meet 2016 cash generation target
Thursday, 12 May 2016 

Phoenix Group Holdings : Confirm that it remains on track to meet its 2016 cash generation target of between 350 mln stg and 450 mln stg .Continues to examine options to further diversify away from senior bank debt to longer term, subordinated debt..  Full Article

UAE-based Phoenix Group raises $205 mln loan

DUBAI, Nov 29 Phoenix Group, a Dubai-based agricultural and food company, has secured a $205 million borrowing base loan, it said in a statement.