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  3. Phoenix Group Holdings Share Price
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  5. Phoenix Group completes GBP248 million acquisition of Sun Life UK

Pin to quick picksPhoenix Group Holdings Share News (PHNX)

Phoenix Group Holdings Information

Share Price Information for Phoenix Group Holdings (PHNX)

London Stock Exchange
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Share Price: 516.00
Bid: 516.50
Ask: 517.00
Change: 20.60 (4.16%)
Spread: 0.50 (0.097%)
Open: 493.20
High: 520.00
Low: 488.80
Prev. Close: 495.40
PHNX Live PriceLast checked at -

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Phoenix Group completes GBP248 million acquisition of Sun Life UK

Mon, 03rd Apr 2023 09:12

(Alliance News) - Phoenix Group Holdings PLC announced on Monday the completion of the Sun Life of Canada UK Ltd acquisition from Sun Life Financial Inc.

The London-based insurance services provider acquired SLF of Canada UK, or Sun Life UK, for GBP248 million.

Sun Life UK is a life insurer based in Toronto.

Phoenix previously said the acquisition, which would be fully funded from existing cash resources, is expected to deliver around GBP470 million of incremental long-term revenue. Around 30% of this is expected within the first three years.

Phoenix had also said that the acquisition of the company will enhance and diversify its capabilities in North America.

Phoenix shares were up 0.1% at 547.10 pence in London on Monday morning.

By Sabrina Penty; Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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