Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Aberdeen completes Swip buy with infrastructure deal

Aberdeen completes Swip buy with infrastructure deal

Aberdeen Asset Management has completed the final part of the Scottish Widows Investment Partnership (Swip) deal, with its buy of Swip's Infrastructure fund arm.

Aberdeen, led by Martin Gilbert (pictured) has now completed the acquisition of Swip's private equity and infrastructure fund management businesses from Lloyds, announced on 18 November 2013. 

The final deferred top-up payment to Lloyds has been reduced from £39.4 million to £38.3 million to reflect the completion of the Infrastructure acquisition. This will be payable to Lloyds at the end of a 12-month period following completion. Aberdeen is entitled to make this payment either in cash or by the issue of additional new ordinary shares to Lloyds. The total consideration for the aquisition, including the deferred top-up payment is approximately £550 million. 

Application has been made to The UK Listing Authority and the London Stock Exchange (LSE) for a listing of just under 6 million ordinary shares of 10p as consideration for the Infrastructure fund management business acquisition, to trade on the LSE.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Play Carmignac's Crowl: what QE could mean for Europe

Carmignac's Crowl: what QE could mean for Europe

The ECB is widely expected to finally fire its QE gun this week. Carmignac's Sandra Crowl discusses the implications for the eurozone.

Play Grexit worries, currency wars and a grizzly outlook for 2015?

Grexit worries, currency wars and a grizzly outlook for 2015?

The first Investment Pulse of the year looks at the potential impact of Greece leaving the euro, volatility in currency markets and the UK’s economic prospects.

Your Business: Cover Star Club

Profile: DIY investing is biggest threat to industry, says Whitechurch

Profile: DIY investing is biggest threat to industry, says Whitechurch

The industry is at risk of pushing potential investors down the DIY route unless it does more to make its services accessible says the Whitechurch Securities boss

Wealth Manager on Twitter