Aberdeen completes first stage of Credit Suisse acquisition

Aberdeen has completed the first stage in its acquisition of Credit Suisse's asset management busines...

Aberdeen has completed the first stage in its acquisition of Credit Suisse's asset management business. Aberdeen Asset Management confirmed the transfer of the Asia Pacific business which had assets under management of £7.1bn following First Closing completion on 31 March. Credit Suisse will receive a total of 32,526,196 new ordinary shares in Aberdeen as part of this stage of the deal. Aberdeen chief executive, Martin Gilbert, says: "Today we have made a significant step towards concluding the planned acquisition of various businesses from Credit Suisse, announced at the end of Decembe...