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Deal Date: 23-02-2018 Practice Area: Corporate and M&A
Deal Title: Standard Life Aberdeen Sale of Insurance Business to Phoenix Group Industry: Nonlife Insurance
Slaughter and May acted for Standard Life Aberdeen plc on the sale of its capital-intensive insurance business to Phoenix. The total consideration upon completion was GBP3.24 billion, including GBP2.28 billion in cash and a 19.99% shareholding in Phoenix. The sale involved the disposal of Standard Life Assurance Limited, with SLA retaining its UK retail platforms and financial advice business. The businesses transferred to Phoenix as part of the sale included the UK Mature Retail and Spread/risk books and the Europe, UK Retail and Workplace businesses.
Financial Center: London Value: 1000.01-5000.00
Advised Party: Vendor Law Firm
Target Company Jurisdiction: United Kingdom Acquiror Jurisdiction: United Kingdom
Classification: Strategic Buyer Acquisitions Private Company
Lawyer Jonathan Marks