Published: April 15, 2026 at 7:58 am
Standard Life plc has entered into an agreement to acquire insurance and pensions giant Aegon UK plc for £2 billion.
The pensions provider said the transaction will be funded through a combination of debt, cash and the issue of new ordinary shares in Standard Life.
The cash consideration will be £750m, financed through a combination of £650m debt issuance to be issued prior to completion and cash resources; while Aegon will be issued with 181.1m new shares, representing 15.3% of the group’s enlarged share capital.
The deal creates the UK’s largest retirement savings and income business, with 16 million customers and assets under administration of £480bn.