Edition:
United Kingdom

Phoenix Group Holdings (PHNX.L)

PHNX.L on London Stock Exchange

779.50GBp
20 Jun 2018
Change (% chg)

2.50 (+0.32%)
Prev Close
777.00
Open
781.00
Day's High
784.00
Day's Low
778.50
Volume
1,983,717
Avg. Vol
1,070,786
52-wk High
823.47
52-wk Low
719.00

Latest Key Developments (Source: Significant Developments)

Phoenix Group launches 950 mln pound rights issue for acquisition
Wednesday, 30 May 2018 

May 30 (Reuters) - Phoenix Group Holdings ::ANNOUNCES FULLY UNDERWRITTEN RIGHTS ISSUE, INTENDED TO RAISE GROSS PROCEEDS OF APPROX. £950 MILLION ($1.26 billion) TO BE USED TO FUND PART OF CASH CONSIDERATION FOR ACQUISITION OF STANDARD LIFE ASSURANCE.  Full Article

Phoenix Group Says To Have RT1 Roadshow With Credit Investors
Friday, 13 Apr 2018 

April 13 (Reuters) - Phoenix Group Holdings ::ANNOUNCEMENT OF RT1 ROADSHOW WITH CREDIT INVESTORS AND UPDATE ON STANDARD LIFE ASSURANCE ACQUISITION.  Full Article

Phoenix Group says Prudential Regulation Authority approves Abbey Life deal
Tuesday, 13 Dec 2016 

Phoenix Group Holdings : Regulatory consent - Abbey Life Acquisition . Announces that Prudential Regulation Authority has consented to acquisition of Abbey Life Assurance Company Limited .Completion of acquisition is expected to take place on 30 December 2016.  Full Article

Phoenix Group completes acquisition of AXA business
Tuesday, 1 Nov 2016 

Phoenix Group Holdings : Completion of the AXA business acquisition .Announces completion of acquisition of AXA Wealth's pensions and protection businesses.  Full Article

Phoenix Group to buy Abbey Life 935 mln pounds
Wednesday, 28 Sep 2016 

Phoenix Group Holdings : Proposed acquisition of Abbey Life . Consideration of 935 mln stg in cash payable on completion . Consideration and estimated expenses to be financed through fully underwritten rights issue to raise 735 mln stg, 250 mln stg new bank facility . Acquisition to add 10 bln stg of assets under management and approximately 735,000 policyholders . Attractive price representing 0.89x multiple of solvency II own funds and 0.77x of MCEV . Acquisition will support a proposed increase in dividends in respect of 2017 to 197 mln stg . Acquisition expected to generate about 0.5 bln stg of aggregate cashflows between 2016 and 2020 . Completion of acquisition by end of 2016, subject to regulatory approvals .Acquisition also expected to generate cashflows of about 1.1 bln stg in aggregate from 2021 onwards.  Full Article

UK's CMA not to refer AXA-Phoenix deal for further investigation
Tuesday, 2 Aug 2016 

UK's CMA (Competition and Markets Authority) :Has decided, not to refer following Phoenix Group Holding merger with AXA Sunlife and Embassy business to a Phase 2 investigation.  Full Article

UK's CMA probes Phoenix's purchase of UK life and savings business from AXA
Monday, 4 Jul 2016 

Competition and Markets Authority (CMA):UK's CMA says it is investigating the completed acquisition by Phoenix Group Holdings of Sunlife and Embassy businesses (currently owned by AXA UK Plc).  Full Article

Specialist insurer LCCG buys UK's Equitable Life, policyholders gain $2.4 bln

LONDON Specialist insurer Life Company Consolidation Group (LCCG) is buying Britain's oldest mutual life insurance company Equitable Life, the firms said on Friday, releasing 1.8 billion pounds ($2.4 billion) to Equitable Life policyholders.