Scottish Widows Management Passes to Aberdeen

by | May 2, 2014

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Aberdeen Asset Management's acquisition of Scottish Widows Partnership Group, announced last November, has finally been completed with the acquisition of Scottish Widows Investment Partnership's Infrastructure fund management business. from Lloyds Banking Group From close of business on 1 May 2014, Aberdeen owns Scottish Widows Partnership Group Limited and its related private equity and infrastructure fund management businesses 

The final deferred top-up payment to Lloyds has been reduced from £39.4 million to £38.3 million to reflect the completion of the Infrastructure acquisition. This will be payable to Lloyds at the end of a 12 month period following completion, and Aberdeen is entitled, at its sole option, to make this payment either in cash or by the issue of additional new ordinary shares to Lloyds.

The total consideration for the Acquisition including the deferred top-up payment is approximately £550 million.

 

 

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