Aberdeen Standard Investments completed the acquisition of a 50% stake in Virgin Money Unit Trust Managers for £40m.

Aberdeen Standard Investments, an investment company, completed the acquisition of a 50% stake in Virgin Money Unit Trust Managers, a provider of investment products, for £40m. "The signing of the SPA that encompasses Virgin Money, Clydesdale Bank and Yorkshire Bank customers is an important milestone in progressing our joint venture with Virgin Money. The partnership offers a fantastic opportunity to develop a business that combines the best talents of Virgin Money and ASI. Most importantly, the joint venture will offer customers across the enlarged CYBG group, beyond Virgin Money’s existing customer base with investment solutions to help them achieve their long-term financial goals," Martin Gilbert, Aberdeen Standard Investments Co-Chief Executive.