Aberdeen acquires Credit Suisse fund business

Credit Suisse will receive up to 24.97% of Aberdeen's enlarged issued ordinary share capital, becoming the largest stockholder in the British fund house. The deal will see Aberdeen grow its assts under management by £40bn to about £150bn. Credit Suisse will accept the full 240m ordinary Aberdeen shares should it meet revenue targets by the expected transaction closing date of 30 June. Aberdeen is acquiring the traditional long-only asset management business, which will expand its presence in Europe, Asia and Australia. It is the second big deal for the Martin Gilbert-led firm, follo...