Proxy Rapport 25/06/2018
Item 1: To approve the sale of Standard Life Assurance Ltd
The Company are seeking authority for the agreed sale of Standard Life Assurance Limited to Phoenix Group for £3.28bn. This comprises a cash consideration of £2.28bn along with a 19.99% shareholding in the Enlarged Phoenix Group, valued at approximately £1bn.
Standard Life Aberdeen is an international asset management business created with the 2017 merger of Standard Life and Aberdeen. Their strategy is to become a world-class investment company with breadth and depth in their investment capabilities and scale of assets.
Standard Life Assurance Limited is the Company
Standard Life Aberdeen is a holding company. Through its subsidiaries, Co. is managed into following segments: Aberdeen Standard Investments, which provides a range of investment products and services for individuals and institutional customers through a number of different investment vehicles; Pensions and Savings, which provide a range of long-term savings and investment products to individual and corporate customers in the U.K., Germany, Austria and Ireland; and India and China life, which provides a range of insurance and savings products and comprise Co.'s life insurance associate in India, its life insurance joint venture in China, and wholly owned operations in Hong Kong.
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