Lincoln Financial Group Announces Completion of Lincoln National UK Sale
PHILADELPHIA, October 1, 2009 Lincoln Financial Group (NYSE: LNC) today announced that SLF of Canada UK Limited has completed its acquisition of Lincoln National (UK) plc for £195 million (GBP) in cash, subject to customary post-closing adjustments which are not expected to be material. Proceeds of approximately $300 million (USD), net of tax, are expected to be used primarily for general corporate purposes. Lincoln National UK was a wholly owned subsidiary of Lincoln Financial, primarily focused on providing life and retirement income products in the UK.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $181 billion as of June 30, 2009. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance;
401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.