March 20, 2018 / 9:12 AM / a month ago

BRIEF-Virgin Money and Aberdeen Standard Investments Establish Asset Management Services JV

March 20 (Reuters) - Virgin Money Holdings (Uk) Plc:

* VIRGIN MONEY/ ABERDEEN STANDARD INVESTMENTS NEW JV

* VIRGIN MONEY - ‍VIRGIN MONEY AND ABERDEEN STANDARD INVESTMENTS TO ESTABLISH A NEW JOINT VENTURE FOR PROVISION OF ASSET MANAGEMENT SERVICES TO CUSTOMERS​

* VIRGIN MONEY HOLDINGS (UK) PLC - ‍AS PART OF JOINT VENTURE, ASI WILL PROVIDE FUND MANAGEMENT SERVICES AND ACCESS TO ITS DIGITAL TECHNOLOGY.​

* VIRGIN MONEY - ‍ANTICIPATED ASI WILL ACQUIRE 50 PERCENT OF VIRGIN MONEY UNIT TRUST MANAGERS WITH TRANSACTION EXPECTED TO COMPLETE BY END OF 2018​

* VIRGIN MONEY - ‍ASI IS EXPECTED TO ACQUIRE 50 PER CENT OF VIRGIN MONEY UNIT TRUST MANAGERS LIMITED FOR AN UPFRONT CASH PAYMENT IN EXCESS OF £40 MILLION ​

* VIRGIN MONEY - ‍WITH CLOSING OF TRANSACTION EXPECTED BY END OF 2018, THERE IS EXPECTED TO BE NO MATERIAL IMPACT ON 2018 UNDERLYING EARNINGS​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below