Standard Life - Sale of Standard Life Healthcare

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Slaughter and May advised Standard Life plc on the sale of Standard Life Healthcare Limited to a subsidiary of Discovery for £138 million in cash.

The sale, which was announced on 11 May 2010, is conditional on approval by the FSA and the South African Reserve Bank and is expected to be completed by 31 July 2010.

Standard Life Healthcare is the fourth largest provider of PMI in the United Kingdom with a market share of approximately 8 per cent. Discovery is an insurance company listed on the Johannesburg stock exchange.

Corporate: Jonathan Marks (partner), Darren Heilig (associate), Brendan Wright (associate), Chris Neubauer (associate), Lindsey Singer (associate); IT/IP: David Ives (partner), Jordina James (associate), Duncan Blaikie (associate); Regulatory: Ben Kingsley (partner), Nicholas Bonsall (associate); Tax: Graham Earles (partner), Tom Jarvis (associate); Pensions and Employment: Sandeep Maudgil (partner), Michael Aherne (associate); Competition: William Sibree (partner), Alistair Newton (associate); Real Estate: John Nevin (partner), Jane Hilton (associate)