We are advising Friends Provident on its recommended acquisition by Resolution to be implemented by way of a UK scheme of arrangement pursuant to which the existing shares in Friends Provident will be cancelled, new shares will be issued by Friends Provident to a subsidiary of Resolution, and Resolution will issue shares and/or pay cash to the current Friends Provident shareholders. The deal involves insurance regulatory change of control steps to be taken in 12 jurisdictions. This follows our role earlier this year in advising Friends on the demerger of its stake in F&C Asset Management Group (see link: F&C Asset Management Group).
For further information, please contact:
Owen Clay (owen.clay@linklaters.com, (44 20) 7456 3230).
