Aberdeen is set to sell half of its 10.4% stake in Standard Life, with the disposed shares raising around £436m.
According to a stock exchange notice today (8 October), the settlement of the sale of the 5.2% stake in Standard Life is expected to take place on 12 October. Following this, Aberdeen will be left with a residual shareholding of around 5.2% of Standard Life's issued share capital. The Edinburgh-headquartered fund group said it intends to deploy the money raised from the sale proceeds in line with its existing cash allocation policy. This includes "maintaining a strong balance sheet, investing selectively in the business to support sustainable profitable growth, reducing and optimis...
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