AIA Group A$3.8 billion acquisition of Commonwealth Bank of Australia's life insurance businesses

4/10/2017

Private acquisition

Value:

A$ 3.8 billion

Status:

Announced

Date:

4/10/2017

Overview:

AIA Group has acquired Commonwealth Bank of Australia's life insurance businesses for A$3.8 billion.
AIA Group will become the largest life insurance provider in New Zealand and Australia.
The deal consists of a partnership agreement for the next 20 years.

Katrin Kostadinova - Data analyst

Jurisdiction:

Australia

Deal type:

Private acquisition

Practice area:

M&A

Governing law:

Australia

Industry sector:

Insurance

Firms:

Ashurst

Party: AIA Group Ltd (Acquirer)

Lawyers: Amanda Ludlow, Con Tzerefos, Jamie Ng, Lisa Simmons, Natsuko Ogawa, Rehana Box

Herbert Smith Freehills

Party: CBA (Seller)

Lawyer: Tony Damian

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