SLI completes £390m takeover of Ignis

Standard Life Investments (SLI) announced today it has completed its takeover of Ignis Asset Management following regulatory approval.

Ignis parent Phoenix Group Holdings received £390m for its subsidiary, of which £250m was used to pay down its debt. SLI's intention to acquire Ignis was announced on 26 March. The deal adds £59bn to SLI's existing assets under management of £184bn, and is expected to enhance its investment capabilities and broaden its third party client base. The combined business will offer a full range of investment solutions, including active management for institutional and wholesale clients, discretionary wealth management and outcome orientated products. As part of the transaction, SLI will ...