IFLR1000

Phoenix Group Holdings £3.24 billion acquisition of Standard Life Assurance

23/2/2018
Private acquisition
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£ 3.24 billion

$ 4.530 billion

Announced

23/2/2018

Overview:

  • Phoenix Group Holdings has acquired Standard Life Assurance for £3.24 billion from Standard Life Aberdeen.
  • The deal will be made up of £2.3 billion in cash, shares constituting a 19.9% stake in Phoenix and £300 million paid to Standard Life Aberdeen.
  • The deal is part of Standard Life's strategy of exiting the insurance sector, according to Reuters.

Sam Duke

Jurisdiction:

United Kingdom

Deal type:

Private acquisition

Practice area:

M&A

Industry sector:

Insurance

Firms:
Hogan Lovells

Party: Standard Life Aberdeen (Seller)

Skadden Arps Slate Meagher & Flom

Party: Phoenix Group Holdings (Acquirer)

Lawyers: Danny Tricot, Matthias Horbach, Robert Stirling

Slaughter and May

Party: Standard Life Aberdeen (Seller)

Lawyers: Jonathan Marks, Nick Bonsall, Paul Mudie, Stephen Powell (retired)

William Fry

Party: Phoenix Group Holdings (Acquirer)

Lawyers: Eoin Caulfield, John Larkin

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