Aberdeen To Acquire SWIP And Enter Into A Long-Term Strategic Partnership With
Lloyds Banking Group
LONDON, Nov. 18, 2013
LONDON, Nov. 18, 2013 /PRNewswire/ -- Aberdeen Asset Management PLC
("Aberdeen") has today announced the proposed acquisition of Scottish Widows
Investment Partnership (SWIP) from Lloyds Banking Group, subject to regulatory
(Logo: http://photos.prnewswire.com/prnh/20121106/NE07292LOGO )
The transfer of various businesses and funds in exchange for a 9.9%
shareholding (valued at around $885 million) in Aberdeen also provides a
valuable platform for a long-term strategic partnership with the Lloyds
The addition of SWIP's approximately $218 billion of asset under management
will result in Aberdeen becoming the largest listed independent asset
management business in Europe with $540 billion under management. The
acquisition combines Aberdeen and SWIP's strengths across fixed income, real
estate, active and quantitative equities, investment solutions and
Commenting on the acquisition, Martin Gilbert, Chief Executive of Aberdeen
"This acquisition is an important step in our long term strategy of further
strengthening our investment capabilities and developing distribution
channels. SWIP will add scale to a number of key disciplines and asset
classes, introduce new strategies to the Group and brings with it a
far-reaching strategic partnership with Lloyds."
In the United States, Aberdeen or Aberdeen Asset Management is the marketing
name for the following affiliated registered investment advisers: Aberdeen
Asset Management Inc., Aberdeen Asset Managers Limited, Aberdeen Asset
Management Asia Limited and Aberdeen Asset Management Limited, each of which
is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a US
registered service mark of Aberdeen Asset Management PLC.
Notes to Editors
About Aberdeen Asset Management PLC
Aberdeen is the parent company of a global independent asset management group.
Formed out of a management buy-out in Aberdeen, Scotland, in 1983, Aberdeen is
a FTSE 100 company operating on-the-ground in over 23 countries across Europe,
Asia and the Americas.
The Group is defined by its pure focus on asset management, including
equities, fixed income, property and multi-asset portfolios. All investment
solutions are driven by its commitment to straightforward, transparent
investment approaches that stress intensive, first-hand research and a
Aberdeen manages assets of $322.6 billion on behalf of institutional and
private investors, as of September 30, 2013.
Further information about Aberdeen can be found at www.aberdeen-asset.us
SOURCE Aberdeen Asset Management PLC
Contact: Aberdeen Asset Management, James Thorneley (UK) +44 (0)20 7463 6323,
Aberdeen Asset Management, Katie Cowley (US) 215-405-2423; Maitland, Tom
Eckersley +44 (0)20 7379 5151
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