Phoenix Group cheers capital markets with M&A financing

Phoenix Group, the UK life assurance fund consolidator plans to raise £1.5bn of underwritten debt to part-fund its £3.24bn cash and shares acquisition of Standard Life Aberdeen’s insurance business, in what is likely to be one of the biggest sterling acquisitions this year.

  • 23 Feb 2018

Phoenix announced on Friday February 23 that it was in talks to buy the business, as the recently merged Standard Life Aberdeen exits the insurance industry. The deal could create a group with £240bn in life company assets.

“This transaction completes our transformation to a capital-light investment ...

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