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...
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