Aberdeen gets approval for Scottish Widows acquisition
March 20 (Reuters) - Aberdeen Asset Management Plc said on Thursday it had received regulatory approval to buy Lloyds Banking Group's fund management arm Scottish Widows Investment Partnership.
Aberdeen said approval by the Financial Conduct Authority meant the deal would likely be completed on March 31.
Aberdeen struck a deal in November to buy Scottish Widows for about 660 million pounds ($1.10 billion), creating Europe's No. 1 listed stand-alone fund manager.
The company expects to issue a trading statement and confirm the completion of the deal on April 1. ($1 = 0.6014 British Pounds) (Reporting by Karen Rebelo in Bangalore; Editing by Saumyadeb Chakrabarty)
- Merkel says tightening Ukraine-Russian border is key to peace deal |
- Ferguson protest march marks two weeks since police shooting |
- Gaza gunmen execute 'collaborators'; mortar kills Israeli boy |
- U.S. hostage rescuers dropped from night sky: Syria activist
- Islamist militants on rise in Austria: government