Aberdeen sells half its stake in Standard Life for £436m
Aberdeen Group has sold an aggregate of 52,000,000 ordinary shares in Standard Life - representing approximately 5.2% of its issued share capital - at a price of 839 pence per share; raising approximately £436m.
Following settlement of the placing, which is expected to take place on 12 October, Aberdeen's residual shareholding will represent approximately 5.2% of Standard Life's issued share capital - having previously owned 104 million ordinary shares.
Aberdeen intends to deploy the proceeds in accordance with its "disciplined... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
