Slaughter and May has advised British insurer Aviva on the S$2.7 billion ($1.98 billion) sale of majority shares in its Singapore business to a consortium led by Singapore Life (Singlife). Allen & Gledhill advised on the Singapore law aspects of the transaction.
According to Reuters, the Singlife consortium includes alternative asset firm TPG, Japanese insurer Sumitomo Life and other existing Singlife shareholders. The new business will be initially branded as Aviva Singlife.
The Slaughter and May team was led by partners Richard Smith and Claire Jackson.
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