Standard Life Aberdeen PLC (LON:SLA) raised a net £652mln through the sale of just over half its stake in the Indian life and pensions business HDFC.
The shares were sold at an average price of Rs 672.68 for a total Rs 67.3bn (£652mln), net of taxes and expenses.
SLA, which intends to rebrand soon as abrdn PLC, will use the proceeds for general corporate purposes, said a statement.
The shares sold constituted 4.99 % of HDFC Life's share capital, with SLA’s shareholding now down to 3.89% and worth around £530mln.