Slaughter and May is advising Aviva on the sale of a majority shareholding in Aviva Singapore

Slaughter and May is advising Aviva plc (“Aviva”) on its sale of a majority shareholding in Aviva Singapore to a consortium led by Singapore Life Ltd (“Singlife”). The total consideration upon completion will be SGD 2.7 billion (£1.6 billion) which is comprised of SGD 2.0 billion (£1.2 billion) in cash and marketable cash instruments, SGD 250 million in vendor finance notes and a 25% shareholding in the new combined group.

The Singlife consortium includes TPG, a leading global private equity investor, which will become the largest shareholder in the new group upon completion, Sumitomo Life, a leading Japanese insurer, and other existing Singlife shareholders.

The transaction is subject to customary closing conditions, including regulatory approval.

Slaughter and May, led by corporate partners Richard Smith and Claire Jackson, have been working closely with the Aviva legal team, which is led by Neil Harrison (General CounselGroup, Digital & Asia). Allen & Gledhill are advising on the Singapore law aspects of the transactions

Corporate
Richard Smith Partner
Claire Jackson Partner
Chris McGaffin Partner
Eleanor Mackay Associate
Francesca Parker Associate
Usman Sawar Associate
Daniel Bell Associate
Financing
Oliver Wicker Partner
Kevin Howes Associate
IP/IT
Cathy Connolly Partner
Oliver Howley Associate
Ian Ranson Associate
Tax
William Watson Partner
Charles Osborne Associate