Aberdeen Asset Management has paid an additional £38.3m top-up payment to Lloyds Banking Group for Scottish Widows Investment Partnership (Swip).
The sum was agreed as part of the acquisition, which was completed last year and saw Swip taken over by Aberdeen.
A statement to the stock exchange this morning said the deferred top-up payment was due on March 31, being 12 months following the date of the completion of the acquisition.
“This payment is based on the difference between Aberdeen’s volume weighted average price for the five business days prior to completion and the reference price of 420 pence per share,” the announcement said.
“The deferred top-up payment was accounted for as a liability on the company’s balance sheet, so there is no impact on regulatory capital.”
