Jackson Financial Inc.’s Demerger With Prudential

Slaughter and May advised Prudential plc on the deal. Debevoise & Plimpton advised Prudential plc and Jackson Financial.

Prudential plc (Prudential) proposed the demerger of its US business, Jackson Financial Inc. (Jackson) and its group, from Prudential, resulting in two separately-listed companies. The demerger, which is subject to shareholder approval, will complete Prudential’s strategic transformation and will enable it to focus exclusively on its higher-growth and higher risk-adjusted return businesses in Asia and Africa, making it one of the largest Asia and Africa-focused life insurance and asset management businesses. Prudential will remain headquartered in London and will retain its premium listing on the London Stock Exchange, its primary listing in Hong Kong, and other listings in Singapore and New York. Jackson has been approved to list on the New York Stock Exchange.

Slaughter and May worked alongside Debevoise & Plimpton (who advised on matters of US law) to support Prudential’s in-house legal team, led by Simon Ramage (Director of Group Legal) and Abbe Martineau (Senior Legal Counsel).

Slaughter and May’s team inlcuded Roland Turnill (Picture), Partner, Natalie Cook, Partner, Chris Tolley, Associate, Olivia Hosker, Associate, Daniel Bell, Associate, James Edwards, Trainee, Guy O’Keefe, Partner, Kieran Turton, Associate, Ryan Law, Associate, Jan Putnis, Partner, David Shone, Associate, Mike Lane, Partner, Kyle O’Sullivan, Associate, Padraig Cronin, Partner, Ian Brown, Senior Counsel, Philippa O’Malley, Associate, Daniel Schaffer, Partner, Ross Neill, Associate, Rebecca Cousin, Partner, Lucie Van Gils, Associate, Clara Choi, Partner, Peter Lake, Partner, Nicola Lui, Associate, Mike Ringer, Counsel, Jiayi Li, Associate and Michelle Lam, Associate.

The Debevoise team was led by capital markets partners Peter Loughran and Eric Juergens and included associates Aleena Aspervil, Benjamin Pedersen and Jongmin Char, insurance M&A partners Marilyn Lion and Nicholas Potter, counsel Andrew Jamieson and Keith Slattery and associates Ali Bazzi, AJ Salomon, Rebecca Sayles, Brita Siepker and Leron Solomon, tax partners Daniel Priest and Peter Schuur, associate Sabrina Hsieh and law clerk Kimberly Lee, benefits partners Lawrence Cagney and Jon Lewis and associate Charity Brunson Wyatt, finance partner Sunil Savkar, counsel Emilie Hsu and associates Marta Poplawski and Temitayo NeneAqua Umoren, investment management partner Marc Ponchione, litigation partner Susan Gittes and associate Katie Aber, and antitrust counsel Kyra Bromley.

Involved fees earner: Katie Aber – Debevoise & Plimpton; Aleena Aspervil – Debevoise & Plimpton; Ali Bazzi – Debevoise & Plimpton; Kyra Bromley – Debevoise & Plimpton; Charity Brunson Wyatt – Debevoise & Plimpton; Lawrence Cagney – Debevoise & Plimpton; Jongmin Char – Debevoise & Plimpton; Sabrina Hsieh – Debevoise & Plimpton; Emilie Hsu – Debevoise & Plimpton; Andrew Jamieson – Debevoise & Plimpton; Eric Juergens – Debevoise & Plimpton; Jonathan Lewis – Debevoise & Plimpton; Marilyn Lion – Debevoise & Plimpton; Peter Loughran – Debevoise & Plimpton; Temitayo NeneAqua Umoren – Debevoise & Plimpton; Benjamin Pedersen – Debevoise & Plimpton; Marc Ponchione – Debevoise & Plimpton; Marta Poplawski – Debevoise & Plimpton; Nicholas Potter – Debevoise & Plimpton; Daniel Priest – Debevoise & Plimpton; Susan Reagan Gittes – Debevoise & Plimpton; AJ Salomon – Debevoise & Plimpton; Sunil William Savkar – Debevoise & Plimpton; Rebecca Sayles – Debevoise & Plimpton; Peter Schuur – Debevoise & Plimpton; Brita Siepker – Debevoise & Plimpton; Keith Slattery – Debevoise & Plimpton; Leron Solomon – Debevoise & Plimpton; Daniel Bell – Slaughter and May; Ian Brown – Slaughter and May; Clara Choi – Slaughter and May; Natalie Cook – Slaughter and May; Rebecca Cousin – Slaughter and May; Padraig Cronin – Slaughter and May; Olivia Hosker – Slaughter and May; Peter Lake – Slaughter and May; Michelle Lam – Slaughter and May; Mike Lane – Slaughter and May; Ryan Law – Slaughter and May; Jiayi Li – Slaughter and May; Nicola Lui – Slaughter and May; Ross Neill – Slaughter and May; Guy O’Keefe – Slaughter and May; Philippa O’Malley – Slaughter and May; Kyle O’Sullivan – Slaughter and May; Jan Putnis – Slaughter and May; Mike Ringer – Slaughter and May; Daniel Schaffer – Slaughter and May; David Shone – Slaughter and May; Chris Tolley – Slaughter and May; Roland Turnill – Slaughter and May; Kieran Turton – Slaughter and May; Lucie van Gils – Slaughter and May;

Law Firms: Debevoise & Plimpton; Slaughter and May;

Clients: Jackson Financial; Prudential plc;

Giulia Di Palma

Author: Giulia Di Palma