Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    63,786.50
    +4,087.98 (+6.85%)
     

  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • Dow

    37,986.40
    +211.02 (+0.56%)
     

  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     

  • Gold

    2,406.70
    +8.70 (+0.36%)
     

  • Crude Oil

    83.24
    +0.51 (+0.62%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Phoenix gets approval to buy Deutsche Bank's Abbey Life

Reuters

(Reuters) - Britain's Phoenix Group Holdings (PHNX.L) said a banking supervisory body had cleared its deal to buy Deutsche Bank AG's (DBKGn.DE) British insurance business, Abbey Life Assurance.

Phoenix said Prudential Regulation Authority, the Bank of England's arm that supervises lenders, had approved the deal and that it expected the transaction to close on Dec. 30.

The company, UK's largest owner of life assurance funds closed to new customers, said in September that it would buy Abbey Life for $1.22 billion (962.64 million pound) in cash.

(Reporting by Rahul B in Bengaluru; Editing by Anil D'Silva)