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Deal Date: 09-10-2013 Practice Area: Corporate and M&A
Deal Title: Standard Life Wealth Acquisition of Newton Management Business Industry: Life Insurance
Standard Life Wealth (SLW), a subsidiary of Standard Life PLC and one of the UK's fastest growing discretionary fund management businesses, entered into an agreement with Newton Management Limited to acquire its private client division with assets under management of GBP3.6bn. The consideration of up to GBP83.5m is contingent on the value of assets under management transferred to, and retained by, SLW. The transaction is expected to more than triple SLW's discretionary assets, creating a private client wealth manager in the UK with increased profitability, significant scale and market presence. SLW will acquire a high quality book of business, as well as a skilled and dedicated client-facing workforce, without any legacy operations or systems.
Financial Center: Jersey Value: 0.00-0.00
Advised Party: Vendor Law Firm
Target Company Jurisdiction: Jersey Acquiror Jurisdiction: United Kingdom
Classification: Strategic Buyer Acquisitions Private Company
Lawyer Ben Robins