LONDON: Lloyds Banking Group Plc and Standard Life Aberdeen Plc are set to settle a dispute over the bank’s decision to pull its £109bil (US$136bil) contract from the asset manager.
Lloyds would pay Standard Life £140mil in cash as compensation and leave £30bil of the total under their management for three years, according to a person familiar with the matter, who asked not to be identified because the talks are private.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
