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King & Wood Mallesons has advised financial services giant AMP Limited on three “key components” of its company strategy reset.
Firm: KWM (AMP)
Moreover, KWM advised on the $650 million capital raising via a fully underwritten placement to institutional investors, and additional share purchase plan for eligible retail investors.
Value: $3.65 billion
Area: M&A, equity capital markets, corporate advisory.
Key players: The KWM deal team was led by partners Jason Watts, Henrik Moritz, Tim Bednall, Bryony Evans, David Friedlander and Nathan Hodge.
Deal significance: Commenting on the agreement to sell AMP Life, Mr Watts said: “We were very pleased to see this come to fruition. the pathway to a simpler, more agile business that will enable AMP to focus on its higher growth businesses.”
And speaking about the capital raising, Mr Friedlander said: “Having acted for AMP for over 165 years, we were incredibly pleased to advise AMP in creating an immediate opportunity to implement its new strategy and fund ongoing growth across the core businesses.”
The sale of AMP Life is expected to complete in the first half of 2020.
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
You can email Jerome at:
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Jerome Doraisamy
