Standard Life to purchase Aegon UK

The deal will be funded through a combination of debt, cash and the issue of new shares in Standard Life, which will form around 15.3% of the group's enlarged share capital. As part of the deal, Aegon will become a strategic shareholder and asset management partner of Standard Life and will be entitled to appoint one non-executive director to its board. Standard Life said the combination of what it called two "highly complementary businesses" accelerates its vision to be the UK's leading retirement savings and income business, while at the same time strengthening its cash, capital and...