Investment management: Aberdeen in talks to buy Scottish Widows

Click to follow
The Independent Online

Aberdeen Asset Management is in talks to buy Scottish Widows Investment Partnership from Lloyds Banking Group, the part-nationalised lender.

The deal – which analysts believe would cost Aberdeen, the lead sponsor of the Cowes Week sailing regatta, about £500m – would be transformational for the fund manager while helping the bank meet tough new capital requirements. Under the terms being discussed, Lloyds could end up owning a stake in Aberdeen.

However, experts claimed Aberdeen was not the only party interested in Scottish Widows.

Looking for credit card or current account deals? Search here

Comments