Life Company Consolidation Group’s €286 million acquisition of Generali PanEurope

Ashurst is advising the lenders on new acquisition facilities supporting Life Company Consolidation Group’s (LCCG) agreement with Generali to acquire the entire shareholding in Generali PanEurope.

Generali will receive, as initial consideration, €230 million and a potential deferred consideration of up to €10 million to be paid 12 months after closing. In addition, Generali will receive approximately €56 million as settlement for certain intercompany financing arrangements, for total cash proceeds at closing of approximately €286 million.

Generali PanEurope has operated in Ireland since 1999 and offers financial solutions across Europe to high net worth and affluent individuals for investment and savings, as well as to companies that wish to provide life and protection benefits for their employees.

The acquisition is subject to regulatory and competition authority approvals and is expected to complete during the first half of 2018.

The Ashurst team is being led by banking partner Tim Rennie (picture), assisted by Kathryn Wotton, Thea Vukasinovic and Tom Penton.

Involved fees earner: Tim Rennie – Ashurst; Kathryn Wotton – Ashurst; Thea Vukasinovic – Ashurst; Thomas Penton – Ashurst;

Law Firms: Ashurst;

Clients: Life Company Consolidation Group (LCCG);