Following the takeover of Scottish Provident by Abbey National, the group is to close its with-profi...
Following the takeover of Scottish Provident by Abbey National, the group is to close its with-profits fund, which contains the 38% shareholding in Aberdeen Asset Management. The £2bn takeover of Scottish Provident by Abbey National will see the transfer of existing unitised with-profits business and non-profit unit-linked business into a non-profits fund in a company named Scottish Provident Limited. The conventional with-profits business will be transferred into a ring-fenced sub-fund in the newly-formed Scottish Provident Life and no new business written in the fund. The equity share ...
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