Phoenix Offers to Buy Abbey Life From Deutsche Bank for GBP935m
Source: BFW (Bloomberg First Word)
Tickers
DBK GR (Deutsche Bank AG)
PHNX LN (Phoenix Group Holdings)
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UUID: 7947283
(Bloomberg) -- Phoenix Group to buy Abbey Life from Deutsche Bank for GBP935m in cash payable on completion, subject to adjustments.
Alert: HALISTER- Consideration and estimated expenses to be financed through a fully underwritten rights issue to raise a total of GBP735m and a GBP250m new bank facility
- Acquisition to add GBP10b of assets under management and ~735,000 policyholders
- Acquisition expected to generate approximately GBP0.5b of aggregate cashflows between 2016 and 2020 and ~GBP1.1b in aggregate from 2021 onwards
- Statement:Link
Source: BFW (Bloomberg First Word)
Tickers
DBK GR (Deutsche Bank AG)
PHNX LN (Phoenix Group Holdings)
To de-activate this alert, click here
UUID: 7947283