Scotland's Standard Life in talks to buy Aberdeen, forming £660b European asset management giant

London

STANDARD Life Plc, Scotland's largest insurer, is in talks to acquire Aberdeen Asset Management Plc, creating one of Europe's biggest asset managers overseeing £660 billion (S$1.1 trillion).

Under the terms of the potential deal, Standard Life shareholders would own 66.7 per cent of the combined group, according to a joint statement on Saturday.