"This transaction completes our transformation to a capital light investment business", Chairman Gerry Grimstone said in a statement, published alongside the company's first set of annual results since it formed past year through the 11 billion pound merger of two Scottish rivals.
FTSE 250 firm Phoenix will pay £2.28bn of cash and issue Standard Life Aberdeen with a 19.99 per cent shareholding.
Standard Life Aberdeen has sold its insurance arm to Phoenix in a £3bn deal.
The firm was also hit by a move by Lloyds Banking Group earlier this month which announced it is to withdraw £109bn of assets now managed by Standard Life Aberdeen for Scottish Widows, almost 17% of Standard Life Aberdeen's AUM.
Standard Life Aberdeen's 2017 results saw the group's reported adjusted pre-tax profit rise to £492mln, up from £385mln in 2016, with pro forma fee-based revenue slipping slighting to £1.8912bn from £1.920bn.
His co-chief executive Martin Gilbert, Aberdeen Asset Management's former boss and Skeoch's fishing partner, was paid 4.3 million pounds in the 12 months to December 2017, according to data supplied by an SLA spokesman.
Standard Life Aberdeen (LON SLA) traded down GBX 9.60 ($0.13) during trading hours on Tuesday, hitting GBX 376.10 ($5.20). The sale is expected to complete in the third quarter of 2018.
The firm also announced Sir Gerry would be stepping down as chairman from the board by the end of 2019 after 11 years.
Standard Life Aberdeen also said that it expanded its strategic partnership with Phoenix Group providing a long-term source of assets, access to retail customers as well as the opportunity for wider collaboration.
"We have a diverse range of modern investment capabilities with global distribution and our leading United Kingdom retail platforms are growth engines generating significant net inflows for our asset management business".
Saudi Arabia plans to invest $64 billion in its entertainment sector over the coming decade, an official said today. He added that 500 companies have already registered to organize entertainment events this year.
The new version is slated for a March 16 release on PS4 and Xbox One, with a PC version coming later exclusively to Origin. Burnout Paradise will deliver the same action-packed experience that gripped gamers when the title first came out.
He said that Oxfam had spoken to as numerous women involved as it could trace, and none were under 18. Goldring said: "We really want people to come forward wherever they are and whenever this happened".
Haim appeared on Nick Grimshaw's Radio 1 show this morning, where Grimmers called Cheryl's phone for Este to leave a message. Cheryl and Liam Payne attend The BRIT Awards 2018 held at The O2 Arena on February 21, 2018 in London, England.
Once the club's proceedings are complete, the players are each set for the maximum fine of two weeks' wages. All four players apologised for breakinga club imposed curfew and being involved in an "incident".
She responded to Trump's claims that he would never assault anyone in public by asking to release the security footage. Describing the encounter, Crooks told the Post: "He started kissing me on one cheek, then the other cheek".
New Zealand set a target three times; Australia chased it down three times, albeit with two Duckworth-Lewis method interventions. Agar was the pick of the Australian bowlers with three wickets while Richardson and Tye snared two wickets apiece.
The U.S. wouldn't have even qualified for the semifinals if it hadn't defeated Canada, Switzerland and Great Britain in a row. The Americans take on Sweden (5-2) on Wednesday with the aim of reaching a tiebreaker game with a playoff berth on the line.
Alexander Krushelnitsky is set to face a CAS hearing in the near future after he tested positive for meldonium. An investigation is due to be carried out, and Krushelnitckii said he was positive it will find him innocent.
In fact, Kamal revealed during the press conference that he had spoken to Andhra Pradesh chief minister N. According to PTI , he said, "There was no politics in the school visit ".
Fortnite building goes turbo in the next update
Epic Games has also changed the way that players can build in Fortnite battle royale with the aim of making it a smoother process. Epic's upcoming building improvements seem meant to pick up the pace of construction in order to keep the flow of combat moving.
Sub-Saharan Africa 'most corrupt in the world'
New Zealand's score slipped from 90 to 89 (out of 100), but remains marginally ahead of Denmark, which scored 88. Akhbar said the bottom last countries were Yemen, Sudan, Afghanistan, Syria, South Sudan and Somalia.
How To Add Temperature On Snapchat
A couple of weeks ago, Snapchat woke up to a flood of netizens criticizing the platform for a design change it had introduced. On Tuesday, parent company Snap announced a new update meant to make it easier for users to view content they want to see.
Volvo debuts the sleek and redesigned 2019 V60 wagon
Both are petrol-electric plug-in hybrid models with all-wheel drive, with the T6 model making 335bhp and the T8 making 385bhp. It also benefits from the latest autobraking technology. "The new V60 honors that tradition, but also takes it much further".
Iconic British director is 'top of list' for Bond 25
Confirmed reports about the next Bond film should come very soon with the announcement of director and a release date. Boyle has always been in the running to direct a Bond movie, going back to Skyfall and Spectre .
U.S. medals for first time since Thursday
Speaking after the final, Goepper said he changed his initial plan once the high quality of the field became evident. Canada's Alex Beaulieu-Marchand finished a further 1.20 points behind in the bronze medal position.
NCAA rules Louisville must take down 2013 title
That gave the NCAA Infractions Committee wide discretion to make its decision on penalties. "Instead it was ignored". That scandal led to the ouster of Pitino and Louisville's athletic director, Tom Jurich, by the university's board.