Practice Areas - Corporate and M&A Law Firms and Lawyers
Deal Date: | 22-11-2013 | Practice Area: | Corporate and M&A |
Deal Title: | Swiss Re Acquisition of New China Life Insurance Shareholding | Industry: | Life Insurance |
Description: |
Slaughter and May advised Swiss Re Ltd, the global reinsurer with a focus on risk transfer, risk retention financing, and asset management, on its acquisition from Zurich Insurance Company Ltd of a 4.9% shareholding in New China Life Insurance Company Ltd, the third largest life insurer in China based on gross premium, for HKD3,821 million (approximately USD493 million).
Swiss Re acquired directly from Zurich Insurance Company 152.9 million New China Life H shares listed on the Stock Exchange of Hong Kong, representing 4.9% of the total issued share capital of New China Life which includes both H shares listed in Hong Kong and A shares listed in Shanghai.
Corporate and Commercial: Neil Hyman (partner), Roger Cheng (associate).
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Financial Center: | Hong Kong | Value: | 100.01-500.00 |
Advised Party: | Acquiror | Law Firm | Slaughter and May |
Target Company Jurisdiction: | China | Acquiror Jurisdiction: | Switzerland |
Classification: |
Strategic Buyer Acquisitions Private Company |
Lawyer | Neil Hyman |