Phoenix Group pulls out of talks to sell European businesses

Phoenix Group has discontinued talks regarding the potential sale of its European businesses, Phoenix Europe.

The company was in advanced discussions with a third party about the potential sale, but its board has concluded that the deal under consideration “would not maximise shareholder value”.

Phoenix stated that Phoenix Europe continues to offer it strategic optionality and it will now progress a range of management actions to maximise shareholder value while ensuring its continued support of customers and colleagues.

The firm had previously announced it was in discussions to sell its European businesses in last month (May 2021).

It has also recently entered into a new binding agreement with Standard Life Aberdeen in an effort to simplify their strategic partnership, with Phoenix receiving ownership of the Standard Life brand under the new agreement.

    Share Story:

Recent Stories


Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows

Europe’s pensions challenges
Francesca Fabrizi meets Matti Leppälä, Secretary General and CEO of PensionsEurope, to discuss the key aims and objectives of the association today.