Deal will create pensions and savings group with 16m customers and £480bn of assets, while Aegon focuses on US
The Dutch financial services group Aegon has struck a £2bn deal to sell off its almost 200-year-old UK arm to Standard Life, as part of a US push in which the group will be rebranded as Transamerica.
Standard Life, previously known as Phoenix Group, said the deal to buy Aegon UK would create a pensions and savings group with 16 million customers and £480bn of assets under administration.
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This article was originally published by The Guardian and written by Mark Sweney.
Read original article on The Guardian