Linklaters, Debevoise & Plimpton, and Clifford Chance have advised on Meiji Yasuda Life Insurance Company’s USD2.28 billion acquisition of Legal and General Group’s (L&G) US insurance businesses, Legal & General America.
Concurrently, Meiji Yasuda has acquired about a 5% shareholding in L&G as part of a strategic partnership regarding the US pension risk transfer and asset management businesses.
Linklaters and Debevoise & Plimpton co-advised Meiji Yasuda on the deal. The Linklaters team was led by global co-heads of the insurance sector, Tracy Whiriskey and Duncan Barber, as well as corporate partner Yoshiyuki Asaoka.
M&A partners Alexander Cochran, Kristen Matthews and associate Alexandra Grady co-led the Debevoise & Plimpton team.
Clifford Chance acted as legal counsel to L&G. Its cross-border team was led by relationship partner Anthony Oldfield with support from M&A partner Joe Cosentino and insurance and investment management partners Dennis Manfredi and Jefferey LeMaster.
The transaction is subject to receipt of regulatory approvals.
