Martin Gilbert, chief executive at Aberdeen AM, said the firm was “confident” the transaction would deliver considerable additional value to the company’s shareholders and client base.“This transaction is significant for the long-term prospects of Aberdeen in a number of ways,” he said. “It strengthens our investment capabilities and adds new distribution channels; the acquisition of SWIP adds scale to our business across a range of asset classes; and it also introduces a strategic relationship with Lloyds Banking Group.”Lloyds has agreed to hold all of the new 131.8m shares issued by Aberdeen AM for 12 months and is committed to retaining two-thirds of its stake for two years.Three years after the deal has finalised, it will be allowed to sell down all but one-third of its total stake.Aberdeen added that the acquisition of SWIP’s private equity and infrastructure businesses would be independent of the remainder of the deal, and that failure of them to complete would see a reduction in the £550m consideration.As part of the agreement, Lloyds and Aberdeen have agreed to a “comprehensive strategic relationship” that will see the businesses work together with Lloyds Wealth, Insurance and both commercial and retail banking businesses. Aberdeen Asset Management is to acquire Scottish Widows Investment Partnership (SWIP) in a £550m (€657m) deal that will also see it partner with one of the UK’s largest banking groups’ wealth businesses.The agreement, subject to regulatory approval, will see Aberdeen AM’s assets under management grow by more than £130bn, the company said, highlighting that SWIP’s acquisition would enhance its fixed income and property divisions.Lloyds Banking Group will take a 9.9% stake in Aberdeen AM as part of the deal, accounting for the £550m cost based on the latter’s share price of £4.20 – below the £4.27 closing price last Friday.The asset manager’s shares opened at £4.79 on the London Stock Exchange on Monday morning, rising to £4.91 by mid-day local time.
StumbleUpon YGAM focuses on BAME community engagement with CVR link-up August 21, 2020 Share GambleAware: Engage those with lived experience of gambling harms August 28, 2020 Submit Share Related Articles Marc Etches to step down as CEO of GambleAware in 2021 August 14, 2020 John Heaton, ScotbetJohn Heaton, Chairman of Scotbet, has called upon the Scottish government to ‘strike a balance that respects the right of punters to spend their leisure time and money as they choose, while protecting the small number who get into difficulty’.Writing a column in The Scotsman, he cited the perceived problem of gambling addiction as a major reason for the increased regulation, higher taxes and introduction of full business rates that has forced over 300 high street betting shops to close in the UK over the last two years, which includes 25 for Scotbet.Heaton also suggested that new measures introduced to tackle problem gambling across the industry, which includes the introduction of GambleAware Week, new alerts on gaming machines, restrictions on advertising and a nationwide multi-operator self-exclusion scheme, has moved high street bookies to the ‘forefront of responsible gambling’.“Judging by the tone of some political debate, you might imagine that Scotland has a growing problem with gambling addiction. It doesn’t. The Scottish Government’s own figures show that problem gambling fell to 0.7 per cent in 2015 and is now lower than in 2012. That’s lower than the international average, and much lower than comparative figures for alcohol misuse (26%) and adult obesity (29%).“Our industry supports more than 5,000 jobs in Scotland, many of them women and older people. At a time when the high street is struggling, we continue to invest in our town centres, contributing more than £110 million in taxes and business rates – an average of £112,000 for every shop.”Finally, Heaton responded to the ‘myth’ that Fixed Odds Betting Terminals (FOBTs) have fuelled gambling addiction in the UK, by saying that the level of problem gambling has remained consistent at around 1% for the 15 years that they have been present in betting shops. The average loss on a FOBT in a single session is around £6 and an average session lasts under 9 minutes.
Even before a Source With Knowledge of Don Mattingly’s Situation anonymously confirmed that Don Mattingly’s situation looked good for 2014, it had come to this: The Dodgers doing anything less than picking up the team option on his contract would be a surprise.Whether it was Ned Colletti or Stan Kasten or Mark Walter or Magic Johnson, anybody I spoke to recently about Mattingly’s performance was upbeat. Not tepid. Not cautious. Always positive, though always unwilling to go on the record about 2014 — anonymously or otherwise. (In fact, Kasten gave the Daily News a very cold shoulder — the New York Daily News — in a typical exchange about the subject Tuesday.)Read more at the Inside the Dodgers blog. Newsroom GuidelinesNews TipsContact UsReport an Error
Fernando Llorente’s two injury-time goals saw Swansea come from behind to snatch a thrilling 5-4 win over Crystal Palace in an amazing see-saw game at the Liberty Stadium, snapping an 11-game winless streak and handing the Eagles their sixth straight defeat.Wilfried Zaha opened the scoring for Palace but Bob Bradley’s Swans looked set for their first win since the opening day of the season as a Gylfi Sigurdsson free kick and a brace from Leroy Fer put them 3-1 midway through the second half.Unbowed, Alan Pardew’s Palace came roaring back, James Tomkins forcing home a corner and Jack Cork deflecting the ball into his own net before Christian Benteke put the visitors 4-3 up with just six minutes left.But Llorente netted twice in the 91st and 93rd minute to put the home side back on top, and they hung on grimly through seven minutes of injury time for the three precious points that take them off the bottom of the table.