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Standard Life Aberdeen sees extra annual savings of 100 million pounds from Phoenix sale

Published 30/05/2018, 12:12
© Reuters.  Standard Life Aberdeen sees extra annual savings of 100 million pounds from Phoenix sale
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LONDON (Reuters) - Standard Life Aberdeen (L:SLA) on Wednesday said it expected to save an extra 100 million pounds a year in 'efficiency savings' by 2020 after it completes the sale of its insurance business to Phoenix Group (L:PHNX).

The company, which on Tuesday said it planned to return as much as 1.75 billion pounds to investors, said the savings would come as a result of its revised operating model and were in addition to cost synergies of 250 million pounds a year.

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