Aberdeen is the biggest riser in the FTSE 100 after a double acquisition that CEO Martin Gilbert said does not alter the group's "very cautious" strategy.
The group announced deals to purchase US fixed income manager Artio and a majority stake in private equity fund of funds specialist SVG Advisers this morning, sending shares up 3% to 429p in a flat FTSE 100. Speaking to analysts, Aberdeen chief executive Martin Gilbert (pictured) said the acquisitions did not signal the start of a new acquisitive strategy, suggesting they "will not make a dent in our cash generation". Aberdeen is buying the SVG stake for £17.5m and paying £112m for Artio, but Gilbert pointed out the latter has considerable cash on its own balance sheet. "The key th...
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