Discussions in Respect of Sale Discontinued

RNS Number : 9653B

Phoenix Group Holdings PLC

15 June 2021

 

THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.

LEI: 2138001P49OLAEU33T68

discussions in respect of a potential sale have been discontinued

Following its recent announcement dated 18 May 2021, the Board of Phoenix Group Holdings plc ("Phoenix" or "the Group") announces that discussions regarding the potential sale of its European businesses ("Phoenix Europe") have been discontinued.

The Group received unsolicited expressions of interest for Phoenix Europe and has recently been in advanced discussions with a third party about a potential sale. However, the Board has concluded that the transaction under consideration would not maximise shareholder value and therefore discussions have been discontinued.

Phoenix Europe continues to offer the Group strategic optionality. Phoenix will now progress a range of management actions to maximise shareholder value whilst ensuring we continue to support our customers and colleagues.

The person responsible for arranging for the release of this announcement on behalf of Phoenix is Gerald Watson, Group Company Secretary.

-------------------------------------------------------------------------------------------------------------------------------------------------------

Enquiries

Investors/analysts:

Claire Hawkins, Director of Corporate Affairs and Investor Relations, Phoenix Group

[phone]

Andrew Downey, Head of Investor Relations, Phoenix Group

[phone]

Media:

Douglas Campbell, Teneo

[phone]

Haya Herbert Burns, Teneo

[phone]

Shell ie Wells , Head of Corporate Communications, Phoenix Group

[phone]

-------------------------------------------------------------------------------------------------------------------------------------------------------

Legal Disclaimers

This announcement in relation to Phoenix and its subsidiaries (the "Group") contains forward-looking statements about the Group's current plans, goals and expectations relating to future financial events, conditions, performance, results, strategy and/or objectives. Statements containing the words: 'believes', 'intends', 'will', 'expects', 'may', 'should', 'plans', 'aims', 'seeks', 'continues', 'targets' and 'anticipates' or other words of similar meaning are forward-looking. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that are beyond the Group's control. As a result, such future events and the Group's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements in this announcement. The Group undertakes no obligation to update any of the forward-looking statements contained within this announcement.

 

END

 

 

MSCDKPBQKBKDOAD