CMS advises MetLife on the disposal of MetLife Assurance Limited to Rothesay Life Limited

CMS in London has advised MetLife, Inc. on the agreement to sell MetLife Assurance Limited to Rothesay Life Limited, announced on 18 February 2014. The acquisition is expected to be completed in the second quarter of 2014, subject to regulatory approval and satisfaction of other closing conditions.

MetLife Assurance is a leading specialist bulk annuity pension provider, with approximately £3 billion in assets under management.

The CMS team was led by Chris Southorn, a Corporate Partner in the firm’s Insurance Sector Group, supported by a team including senior corporate associates Hanno Tolhurst and Toni Brown, Sam Dames and Harpreet Chatha on tax, Ian Stevens, Paul Edmondson, Katelyn White on commercial and regulatory aspects, Anthony Fincham and Huw Price on employment and John Markham on antitrust.

Commenting on the transaction Chris Southorn said: “We are delighted to have been able to assist MetLife in this important strategic transaction.”