A global team from Debevoise & Plimpton, led from Hong Kong, has advised Resolution Life in its A$3.3 billion (US$2.3 billion) acquisition of the Australian and New Zealand wealth protection and mature businesses of AMP Limited.
The transaction is a cash and non-cash deal, comprising A$1.9 billion in cash, A$300 million in AT1 preference shares in AMP Life, and A$1.1 billion in non-cash consideration. Subject to regulatory approvals, the transaction is expected to complete in the second half of 2019.
AMP is a wealth management company which offers solutions and services across financial advice, investment management, banking, superannuation, self-managed superannuation funds, life insurance, retirement income and investing.
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