Aberdeen Asset Management completed the acquisition of Scottish Widows Investment Partnership (SWIP) last night, paying a total of £550m for the business.
The acquisition of the SWIP infrastructure fund management business means the buyout of the SWIP brand from Lloyds Banking Group is now complete. A final deferred payment to Lloyds has also been reduced from £39.4m to £38.3m and will be made at the end of the 12-month period. The total consideration for the deal is £550m. However, this is smaller than the £660m it was initially valued at. The deal was approved by the regulator back in March following successful talks in November 2013. At the time, chief executive Martin Gilbert, said: "The combined businesses will have a far...
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