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RPT-Aberdeen in talks to buy asset manager from Lloyds Bank
October 24, 2013 / 10:59 AM / 4 years ago

RPT-Aberdeen in talks to buy asset manager from Lloyds Bank

LONDON, Oct 24 (Reuters) - Aberdeen Asset Management said on Thursday it is in talks to buy Scottish Widows Investment Partnership from Lloyds Banking Group.

Aberdeen said it is discussing a possible strategic partnership with Lloyds. It said the acquisition would be funded by issuing new shares in Aberdeen to Lloyds and additional deferred cash payments, conditional on the business’s performance over a period of years.

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