By Dimitrios Kontos

 

Lloyds Banking Group PLC (LLOY.LN) will place approximately 97.7 million shares in Standard Life Aberdeen PLC (SLA.LN) via an accelerated bookbuild, BofA Merrill Lynch said Thursday.

The shares represent about 3.3% of the Edinburgh-headquartered insurance company's share capital, said Merrill Lynch, which is acting as the sole bookrunner.

The offer price and the final number of shares to be sold will be agreed at the close of the bookbuild process, the bookrunner said.

 

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

 

(END) Dow Jones Newswires

June 07, 2018 12:14 ET (16:14 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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