9th Oct 2007 09:08
Standard Life plc09 October 2007 Standard Life plc Standard Life plc announces that its subsidiary, Standard Life InvestmentsLimited ('SLI') has reduced its stake in its Indian asset management jointventure, HDFC Asset Management Company Limited ('HDFC AMC'), from 49.9% to 40%through the sale of 9.9% of the equity shares in HDFC AMC to Housing DevelopmentFinance Corporation Limited ('HDFC'), SLI's Indian joint venture partner. Theconsideration for the sale is US$45,945,900, payable in cash. It was announced on 4 September that Standard Life had agreed with HDFC toincrease Standard Life's shareholding in HDFC Standard Life Limited, theinsurance joint venture company, from approximately 18.8% to 26% subject only tocompliance with applicable Indian regulatory requirements. 9 October 2007 Enquiries: Richard England, SLI Press Office 0131 245 2750 Barry Cameron, Press Office 0131 245 6165 END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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