Aberdeen acquires Credit Suisse fund business

Aberdeen Asset Management has acquired the majority of Credit Suisse's fund management business in a...

Aberdeen Asset Management has acquired the majority of Credit Suisse's fund management business in an all-share deal worth up to £250m. Credit Suisse will receive up to 24.97% of Aberdeen's enlarged issued ordinary share capital, becoming the largest stockholder in the British fund house. The deal will see Aberdeen grow its assts under management by £40bn to about £150bn. Credit Suisse will accept the full 240m ordinary Aberdeen shares should it meet revenue targets by the expected transaction closing date of 30 June. Aberdeen is acquiring the traditional long-only asset management ...