The Co-operative Group confirms Royal London final payment for Life and Savings Business

December 31, 2014

The Co-operative Group (The Group) today confirms that the deferred consideration of £180m has been paid by Royal London to The Group's subsidiary Co-operative Banking Group for the acquisition of The Co-operative's Life & Savings businesses. The Group also confirms that it has remitted the final capital instalment of £163m to The Co-operative Bank plc as agreed under the Bank re-capitalisation programme finalised in December 2013.