Top firms act as AMP Life sells for $3.3bn

by Sol Dolor31 Oct 2018

Lawyers from four top firms have helped AMP sell its wealth protection and mature life business in Australia and New Zealand.

Ashurst acted for Resolution Life Group, which has agreed to acquire AMP Life for $3.3bn. King & Wood Mallesons advised AMP, which will receive $1.9bn in cash and $300m in preference shares and will retain a $1.1bn stake in AMP Life. Advising on New Zealand aspects of the deal, Bell Gully advised Resolution Life, while Chapman Tripp advised AMP. The deal is Resolution Life’s first investment in Australia.

The Ashurst team was led by corporate partner Con Tzerefos, assisted by senior associates Chris Harris, Monique Hardinge and Rahil Patel, as well as lawyers Stephen Moore, Benson Chin, Duncan Knowles and Tess Birch.

Regulatory aspects were handled by partner Lisa Simmons, who was supported by lawyers Pooja Anantha, Lauren Grant and Sharon Liu. Partner Jamie Ng provided finance advice, with support from senior associate Kevin Lu and lawyers Timon Ibrahim and Jamie Bang.

Partners Rehana Box and Emanuel Poulos handled insurance matters, assisted by lawyers Alex Nash and Tim Ancev. Partner Andrew Harpur, assisted by lawyers Mel Wong and Rebecca Lew, provided disputes advice.

IP matters were tackled by partner Stuart D'Aloisio, assisted by lawyers Tim Rankin and Anna Seddon. Partners Amanda Ludlow and Emma Butler, counsel Clare Doneley, and lawyers David Baldi and Rishada Cassim advised on TMT matters.

Employment advice was provided by partner Jane Harvey, assisted by senior associate Emilie Maddox, and lawyers Olivia McIntosh and Bridget Shelton. Partner Jason Cornwall-Jones and senior associate Gaby Stach handled property matters.

KWM’s deal team was led by partner Jason Watts, along with partners Nathan Hodge, Henrik Moritz, Patrick Gunning, Andrew Gray, and Daniel Natale. They were supported by special counsel Bryony Evans and Andrew Phillipson and senior associates Jennifer Cheung, Adrian Donato, and Rahul Mukherjee.

Bell Gully’s team was led by corporate partners Glenn Joblin and Chris Goddard, with special counsel Sarah McQueen assisting on regulatory and insurance aspects.

Chapman Tripp’s team was led by partners Roger Wallis and Tim Tubman. Partners Bevan Miles and Mike Woodbury, as well as senior associates Greer Fredricson, Phoebe Gibbons, and Jeremy Gray also provided expert advice.