Aberdeen gets regulatory approval to buy Lloyds fund management arm

20th Mar 2014 15:58

Aberdeen Asset Management has received regulatory approval to buy Lloyds Banking Group's fund management division Scottish Widows Investment Partnership.The company said the deal is expected to be completed in March 31st following approval from the Financial Conduct Authority.In November, Aberdeen announced it would buy Scottish Widows for about £660m, creating Europe's No. 1 listed stand-alone fund manager.Aberdeen anticipates it will issue a trading statement confirming the completion of the deal on April 1st.RD

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