Clifford Chance And Freshfields Advise On Multibillion-Pound IPO
The Magic Circle firms are advising on ReAssure's listing, which is due in July.
June 24, 2019 at 04:35 AM
1 minute read
London Stock Exchange
Clifford Chance and Freshfields Bruckhaus Deringer are advising Swiss Re's subsidiary ReAssure on its initial public offering on the London Stock Exchange.
Swiss Re's ReAssure business is Britain's sixth-largest life insurer, with assets of £68.7 billion and 4.3 million policies.
The subsidiary's value was estimated at £3.5 billion in October 2017, but another of its shareholders has since invested about £1 billion into the company, according to investment documents.
Though the price range of the shares is yet to be decided and disclosed, the company announced that it planned to float in July with least 25% of its shares on the LSE.
The Clifford Chance team advising ReAssure on the listing is being led by M&A partner Katherine Coates, banking and finance partner Simon Sinclair, and capital markets partners Iain Hunter and John Connolly.
The Freshfields team, led by corporate partners Mark Austin and Doug Smith, is advising bookrunners Credit Suisse, Morgan Stanley, UBS, BNP Paribas and HSBC.
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