A £550million deal has been secured for Aberdeen Asset Management to complete the buy out of Scottish Widows Investment Partnership.

The firm announced the completion of the deal to the Stock Exchange this morning.
Abderdeen announced that the agreement means it has now completed the acquisition of Scottish Widows Partnership Group Limited and its related private equity and infrastructure fund management businesses from Lloyds Banking Group.
Under the agreement, the final deferred top-up payment to Lloyds has been reduced from £39.4 million as announced on 1 April 2014 to £38.3 to "reflect the completion of the infrastructure acquisition".
Martin Gilbert, chief executive of Aberdeen Asset Management, said at the time when details of the deal first emerged in November: "This transaction is significant for the long-term prospects of Aberdeen in a number of ways.
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"It strengthens our investment capabilities and adds new distribution channels; the acquisition of SWIP adds scale to our business across a range of asset classes; and it also introduces a strategic relationship with Lloyds Banking Group.
"We are confident that this transaction will deliver considerable additional value to our expanded client base and this will therefore benefit our shareholders. I am delighted to welcome Lloyds as a major shareholder in the Aberdeen group and we look forward to working with them to deliver value through this new strategic relationship."
Aberdeen is an IFP corporate member.