30th Sep 2005 13:33
Aberdeen Asset Management PLC30 September 2005 ABERDEEN ASSET MANAGEMENT PLC Acquisition of certain fund management businesses of Deutsche Bank Aberdeen Asset Management PLC ("Aberdeen") announces the completion of itsacquisition of certain UK-based fund management businesses and contracts ofDeutsche Bank AG, effective at close of business today. As disclosed in theCircular to shareholders, completion of the acquisition of the Philadelphiaelement of the transaction is expected to take place around 30 November 2005. Considerable work has been undertaken jointly by the management teams of bothAberdeen and Deutsche Asset Management since the announcement of the transactionand Aberdeen remains confident of achieving a smooth integration of the acquiredbusiness into the enlarged Aberdeen Group. Aberdeen has also receivedencouraging feedback from the clients of the business and, while it would notwish to pre-judge the intentions of those clients who have yet to take adecision, Aberdeen is comfortable that this process is progressing well. The combined businesses will operate under the Aberdeen brand. Information willbe provided on the final value of assets under management which transfer toAberdeen's management in the announcement of the Group's preliminary results, bywhich time all elements of the transaction are expected to have been completed. Martin Gilbert, Chief Executive of Aberdeen, said: "We welcome our new colleagues to the Aberdeen Group. We have worked togetherclosely over the past few months and I believe that with our strengthened teamwe will be able to offer all of our clients a truly world class service acrossan extended product range. This in turn will enable us to create enhancedshareholder value." Aberdeen is being advised by JPMorgan Cazenove. Contacts Aberdeen 020 7463 6000Martin GilbertBill Rattray JPMorgan Cazenove 020 7588 2828John PaynterIan HannamRichard LockeJames Wood-Collins Maitland 020 7379 5151Neil BennettMichelle Jeffery This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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