Aberdeen Halves Standard Life Stake
UK asset manager Aberdeen plans to sell 52 million shares in insurer Standard Life to cut its stake to about 5.2 percent. The move supports CEO Jason Windsor's strategy to streamline operations amidst volatile markets.
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ABERDEEN GROUP PLC will sell 52 million shares in insurer Standard Life, cutting its stake to 5.2% to simplify its structure. The British asset manager is streamlining operations under CEO Jason Windsor to sharpen its focus on core wealth and investment units. The restructuring follows rising fee pressure and volatile fund flows across the United Kingdom.
