The biggest shareholder of Aberdeen Asset Management, the company at the centre of the split-cap trust scandal, has today sold its entire 16% stake in the company for £38.1m (€54m).

The shareholder, US fund manager The Phoenix Companies sold 38.1 million shares, representing between 70 and 80 days average trading volume in Aberdeen. Goldman Sachs led the sale.

Shanny Basar

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Aberdeen loses biggest shareholder

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