Skadden Guides FBL In $440M Sale Of EquiTrust Unit

Law360, New York (October 7, 2011, 3:37 PM EDT) -- Iowa-based FBL Financial Group Inc. said Friday that it would sell subsidiary EquiTrust Life Insurance Co. to affiliates of Guggenheim Partners LLC for $440 million cash to focus more intensely on its other operative subsidiary, Farm Bureau Life Insurance Co.

"The divestiture of EquiTrust Life will allow FBL Financial Group to increase focus on its very attractive Farm Bureau market, while reducing risk and increasing financial flexibility," FBL CEO James E. Hohmann said in a statement.

"Over the past 10-plus years, EquiTrust Life has grown into...
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