Aberdeen Asset Management has agreed to pay Barclays Bank £20m (€33m) for its Barclays Property Investment (BPI) arm.

The deal takes the amount of property under management at Aberdeen to more than £2.2bn. Aberdeen expects to continue to manage property on behalf of Barclays' pension fund and Barclays Life.

Aberdeen pays £20m for Barclays division

Mike Foster

Aberdeen Asset Management

Barclays

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