Phoenix Group Holdings (PHNX.L)
23 Feb 2018
Fri, Feb 23 2018
LONDON Standard Life Aberdeen (SLA) has agreed to sell the bulk of its insurance business to Phoenix Group for 3.24 billion pounds ($4.5 billion), allowing it to focus on savings and investment products.
Feb 23 Phoenix Group on Friday said it would raise 950 million pounds ($1.32 billion) in a rights issue to finance the acquisition of Standard Life Aberdeen's European life insurance business for 2.93 billion pounds.
LONDON, Feb 23 Standard Life Aberdeen said on Friday it would sell an insurance division to Phoenix Group for 3.24 billion pounds ($4.51 billion), as it posted 2017 pretax profit of 1 billion pounds. "This transaction completes our transformation to a capital light investment business," Chairman Gerry Grimstone said in a statement, published alongside the company's first set of annual results since it formed last year through the 11 billion pound merger of two Scottish rivals.
* SALE OF INSURANCE BUSINESS AND ENHANCED LONG-TERM STRATEGIC PARTNERSHIP WITH PHOENIX GROUP
* PROPOSED ACQUISITION OF STANDARD LIFE ASSURANCE AND REINFORCED STRATEGIC PARTNERSHIP WITH STANDARD LIFE ABERDEEN PLC
LONDON Britain's Phoenix Group Holdings is in talks to buy Standard Life Aberdeen's insurance business for about 3 billion pounds ($4.2 billion), a source with direct knowledge of the matter said on Thursday.
LONDON, Feb 22 Britain's Phoenix Group Holdings is in talks to buy Standard Life Aberdeen's insurance business for about 3 billion pounds ($4.2 billion), a source with direct knowledge of the matter said on Thursday.
BRIEF-Phoenix Group Says Central Management And Control, And Head Office Will Move From Jersey To United Kingdom
* WITH EFFECT FROM 31 JANUARY 2018 CENTRAL MANAGEMENT AND CONTROL, AND HEAD OFFICE, OF PGH WILL MOVE FROM JERSEY TO UNITED KINGDOM
DUBAI, Nov 29 Phoenix Group, a Dubai-based agricultural and food company, has secured a $205 million borrowing base loan, it said in a statement.