Standard Life is in talks to purchase Phoenix Group’s Ignis Asset Management, a deal likely to worth £400 million.
Ignis Asset Management manages fixed income, equity and real estate assets that are valued at around £67 billion.
Commenting on the media speculations, Standard Life said, "Discussions are ongoing and there can be no certainty that any transaction will be agreed. Standard Life will make further announcements if and when appropriate."
Neither company disclosed any financial details about the deal.
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If the deal materializes, Standard Life’s fund management arm will see a boost, which currently manages around £184 billion of funds.
Other names that were linked with a move on Ignis were Canadian banking group RBC and the Australian investment house Macquarie.
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