Royal London to Acquire Co-operative Asset Management Ltd.

July 31, 2013

On July 29, 2013, Royal London Mutual Insurance Society announced receipt of regulatory approval for its acquisition of the Co-operative Banking Group’s asset management business.

On July 29, 2013, Royal London Mutual Insurance Society Limited announced that the Financial Conduct Authority had approved its acquisition of the Co-operative Banking Group’s asset management business, The Co-operative Asset Management Limited.  Royal London also announced that the Prudential Regulation Authority had approved its purchase of the Co-operative Banking Group’s life insurance business, Co-operative Insurance Society (“CIS”).  The transaction is expected to close on July 31, 2013.

Royal London, the UK’s largest mutual life and pensions company, manages approximately ₤52.2 billion in Group funds.  Manchester-based the Co-operative Banking Group has approximately ₤48 billion in assets under management.

To read the press release, please click here.


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Investment Manager M&A, Transactions