StockMarketWire.com - Abrdn said its subsidiary Standard Life Investments had sold more shares in Indian group HDFC Asset Management HDFC Asset Management for about £268 million.

The shares of about 10.65 million were sold at an average price of Rs 2,873.791, which would result in Standard Life Investments receiving approximately Rs 27,019 million, or £268 million the company said.

The company intended to use the proceeds for general corporate purposes.

Standard Life Investments remaining 16.22% shareholding in HDFC AMC 'continues to provide SLI with the right to nominate a Director to the board of HDFC AMC,' the company said.



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