Business
Discussions in Respect of Sale Discontinued
Discussions in Respect of Sale Discontinued.
About this update from Standard Life Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9653B\n Phoenix Group Holdings PLC\n 15 June 2021\n \n \n \n \n THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.\n \n \n \n \n \n LEI: 2138001P49OLAEU33T68\n \n \n \n \n \n discussions in respect of a potential sale have been discontinued\n \n \n \n \n \n Following its recent announcement dated 18 May 2021, the Board of Phoenix Group Holdings plc (\"Phoenix\" or \"the Group\") announces that discussions regarding the potential sale of its European businesses (\"Phoenix Europe\") have been discontinued.\n \n \n \n \n \n The Group received unsolicited expressions of interest for Phoenix Europe and has recently been in advanced discussions with a third party about a potential sale. However, the Board has concluded that the transaction under consideration would not maximise shareholder value and therefore discussions have been discontinued.\n \n \n \n \n \n Phoenix Europe continues to offer the Group strategic optionality. Phoenix will now progress a range of management actions to maximise shareholder value whilst ensuring we continue to support our customers and colleagues.\n \n \n \n \n \n The person responsible for arranging for the release of this announcement on behalf of Phoenix is Gerald Watson, Group Company Secretary.\n \n \n \n \n \n -------------------------------------------------------------------------------------------------------------------------------------------------------\n \n \n Enquiries\n \n \n Investors/analysts:\n \n \n \n \n \n Claire Hawkins,\n Director of Corporate Affairs and Investor Relations, Phoenix Group\n \n \n +44 (0)20 3735 0575\n \n \n Andrew Downey,\n Head of Investor Relations, Phoenix Group\n \n \n +44 (0)20 3735 0160\n \n \n Media:\n \n \n \n \n \n Douglas Campbell, \n Teneo \n \n \n +44 (0)775 313 6628\n \n \n Haya Herbert Burns, \n Teneo \n \n \n +44 (0)734 203 1051\n \n \n \n Shell\n \n ie Wells\n , \n Head of Corporate Communications, Phoenix Group \n \n \n +44 (0)20 373\n 5 0922\n \n \n -------------------------------------------------------------------------------------------------------------------------------------------------------\n \n \n Legal...