February 22, 2018 / 6:33 PM / in 4 months

Phoenix in talks over $4 bln purchase of Standard Life Aberdeen unit - source

LONDON, Feb 22 (Reuters) - British insurer Phoenix is in talks to buy Standard Life Aberdeen’s insurance business for 3 billion pounds ($4.2 billion) in a deal that could be announced as soon as Friday, according to a source with direct knowledge of the matter.

Phoenix will finance the acquisition with a rights issue of about 1 billion pounds, the source said on Thursday.

$1 = 0.7161 pounds Reporting by Ben Martin; Editing by Pamela Barbaglia and Mark Potter

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