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Aberdeen gets approval for Scottish Widows acquisition
March 20 (Reuters) - Aberdeen Asset Management Plc said on Thursday it had received regulatory approval to buyLloyds Banking Group's fund management arm ScottishWidows Investment Partnership.
Aberdeen said approval by the Financial Conduct Authoritymeant the deal would likely be completed on March 31.
Aberdeen struck a deal in November to buy Scottish Widowsfor about 660 million pounds ($1.10 billion), creating Europe'sNo. 1 listed stand-alone fund manager.
The company expects to issue a trading statement and confirmthe completion of the deal on April 1. ($1 = 0.6014 British Pounds) (Reporting by Karen Rebelo in Bangalore; Editing by SaumyadebChakrabarty)
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