LONDON, Nov. 18, 2013 /PRNewswire/ — Aberdeen Asset Management PLC (“Aberdeen“) has today announced the proposed acquisition of Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group, subject to regulatory approval.

The transfer of various businesses and funds in exchange for a 9.9% shareholding (valued at around $885 million) in Aberdeen also provides a valuable platform for a long-term strategic partnership with the Lloyds Banking Group.

The addition of SWIP’s approximately $218 billion of asset under management will result in Aberdeen becoming the largest listed independent asset management business in Europe with $540 billion under management. The acquisition combines Aberdeen and SWIP’s strengths across fixed income, real estate, active and quantitative equities, investment solutions and alternatives.

Commenting on the acquisition, Martin Gilbert, Chief Executive of Aberdeen said:

“This acquisition is an important step in our long term strategy of further strengthening our investment capabilities and developing distribution channels. SWIP will add scale to a number of key disciplines and asset classes, introduce new strategies to the Group and brings with it a far-reaching strategic partnership with Lloyds.”

In the United States, Aberdeen or Aberdeen Asset Management is the marketing name for the following affiliated registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Limited, Aberdeen Asset Management Asia Limited and Aberdeen Asset Management Limited, each of which is wholly owned by Aberdeen Asset Management PLC. “Aberdeen” is a US registered service mark of Aberdeen Asset Management PLC.

Notes to Editors

About Aberdeen Asset Management PLC
Aberdeen is the parent company of a global independent asset management group. Formed out of a management buy-out in Aberdeen, Scotland, in 1983, Aberdeen is a FTSE 100 company operating on-the-ground in over 23 countries across Europe, Asia and the Americas.

The Group is defined by its pure focus on asset management, including equities, fixed income, property and multi-asset portfolios. All investment solutions are driven by its commitment to straightforward, transparent investment approaches that stress intensive, first-hand research and a long-term view.

Aberdeen manages assets of $322.6 billion on behalf of institutional and private investors, as of September 30, 2013.

Further information about Aberdeen can be found at www.aberdeen-asset.us

SOURCE Aberdeen Asset Management PLC