Lloyds Banking Group PLC will pay about 140 million pounds (US$174.72 million) to Standard Life Aberdeen PLC (SLA) to settle a legal fight over ...
REUTERS: Lloyds Banking Group PLC will pay about 140 million pounds to Standard Life Aberdeen PLC to settle a legal fight over the future of a 100 billion pound asset management mandate, Sky news reported on Monday.
The settlement will involve Lloyds paying about 140 million pounds in cash and SLA will retain the management of roughly 30 billion pounds of assets as part of the settlement, the broadcaster https://news.sky.com/story/lloyds-and-standard-life-aberdeen-to-settle-100bn-funds-row-11768449 said citing sources.A further review of the stewardship of those funds would take place in 2022, Sky News added.Lloyds and SLA both declined to comment on the report.
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