Report
Expert Corporate Governance Service (ECGS)
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Proxy Rapport 25/06/2018

Item 1: To approve the sale of Standard Life Assurance Ltd

The Company are seeking authority for the agreed sale of Standard Life Assurance Limited to Phoenix Group for £3.28bn. This comprises a cash consideration of £2.28bn along with a 19.99% shareholding in the Enlarged Phoenix Group, valued at approximately £1bn.

Standard Life Aberdeen is an international asset management business created with the 2017 merger of Standard Life and Aberdeen. Their strategy is to become a world-class investment company with breadth and depth in their investment capabilities and scale of assets.

Standard Life Assurance Limited is the Company

Underlying
Standard Life Aberdeen

Standard Life Aberdeen is a holding company. Through its subsidiaries, Co. is managed into following segments: Aberdeen Standard Investments, which provides a range of investment products and services for individuals and institutional customers through a number of different investment vehicles; Pensions and Savings, which provide a range of long-term savings and investment products to individual and corporate customers in the U.K., Germany, Austria and Ireland; and India and China life, which provides a range of insurance and savings products and comprise Co.'s life insurance associate in India, its life insurance joint venture in China, and wholly owned operations in Hong Kong.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

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Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

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As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

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Expert Corporate Governance Service (ECGS)

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