Investment management: Aberdeen in talks to buy Scottish Widows

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.

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