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 Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Play Europe bulls, a retail boost and why a little inequality can be a good thing

Europe bulls, a retail boost and why a little inequality can be a good thing

This week’s Investment Pulse looks at whether investors should be bullish on Europe, the surprise rise in UK retail sales and if a little inequality is a good thing.

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter