Resolution Scoops Abbey's Life Arm in Pounds 3.6 Billion Deal

Evening Standard - London › June 07, 2006

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Summary

RESOLUTION LIFE, the socalled "zombie" fund manager of life assurance assets, today agreed to take over Abbey National's life business for Pounds 3.6 billion in a move that could catapult it into the FTSE 100 index.

The deal will be funded by a Pounds 1.54 billion rights issue from Resolution, led by chairman Clive Cowdery, which floated only a year ago.

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Extract

Resolution Scoops Abbey's Life Arm in Pounds 3.6 Billion Deal

The deal will be a blo...

See the full content of this document