Norton Rose Reps AXA In $4.1B Resolution Deal

Law360, New York (June 24, 2010, 5:23 PM EDT) -- British buyout vehicle Resolution Ltd. has announced its plan to pick up French insurer AXA SA’s life and savings businesses in the U.K. in a $4.1 billion deal.

After confirming talks of a possible acquisition earlier in June, Resolution said Thursday it would combine the AXA operations with Friends Provident, a British insurance company that Resolution purchased in 2009, in a move designed to expand Resolution’s share in the U.K. life and pensions market.

The company expects to save about $112 million a year in costs...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.