Dutch financial services group Aegon has agreed to sell its UK business to Standard Life (the FTSE 100 pensions and savings company, previously known as Phoenix Group) for approximately £2bn, comprising £750m in cash and 181 million new shares. The UK arm, which traces its roots to Edinburgh in 1831 as Scottish Equitable, has 3.7 million customers, and its addition would give Standard Life a combined 16 million customers and £480bn in assets under administration, making it the UK's largest retirement savings provider. The sale is part of Aegon's broader restructuring away from Europe; the Dutch group plans to shift its headquarters to the United States and rebrand as Transamerica, while retaining a 15.3% stake in Standard Life as its largest shareholder.