Standard Life Aberdeen PLC (SLA.L)
16 Mar 2018
Thu, Mar 15 2018
Phoenix Group said it would not change tack and buy open books of insurance, following a recent deal to buy the majority of Standard Life Aberdeen's insurance business and become Europe's largest manager of books of mature business.
* OFFERS CONSTITUTE SLI OFFERING UP TO 8.01% AND HDFC LIMITED OFFERING UP TO 4.08% OF HDFC AMC'S EQUITY SHARES
* Chairman, three other board members to stand down (Adds 2017 pay for Gilbert)
LONDON, Feb 23 Standard Life Aberdeen revealed on Friday its co-chief executive Keith Skeoch's total pay rose by nine percent to 3 million pounds ($4.2 million) in 2017.
LONDON Standard Life Aberdeen (SLA) has agreed to sell the bulk of its insurance business to Phoenix Group for 3.24 billion pounds ($4.5 billion), allowing it to focus on savings and investment products.
Feb 23 Phoenix Group on Friday said it would raise 950 million pounds ($1.32 billion) in a rights issue to finance the acquisition of Standard Life Aberdeen's European life insurance business for 2.93 billion pounds.
LONDON, Feb 23 Standard Life Aberdeen said on Friday it would sell an insurance division to Phoenix Group for 3.24 billion pounds ($4.51 billion), as it posted 2017 pretax profit of 1 billion pounds. "This transaction completes our transformation to a capital light investment business," Chairman Gerry Grimstone said in a statement, published alongside the company's first set of annual results since it formed last year through the 11 billion pound merger of two Scottish rivals.
* JULIE CHAKRAVERTY, LYNNE PEACOCK AND AKIRA SUZUKI WILL RETIRE FROM BOARD OF COMPANY AT CONCLUSION OF ITS NEXT AGM
* SALE OF INSURANCE BUSINESS AND ENHANCED LONG-TERM STRATEGIC PARTNERSHIP WITH PHOENIX GROUP
* PROPOSED ACQUISITION OF STANDARD LIFE ASSURANCE AND REINFORCED STRATEGIC PARTNERSHIP WITH STANDARD LIFE ABERDEEN PLC
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