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A&O advises Samsung Life Insurance in equity investment and seed capital deal with Savills Investment Management

LONDON – Allen & Overy advised Samsung Life Insurance (Samsung Life) in its strategic alliance with Savills Investment Management (Savills IM). The deal involves the acquisition of a minority stake in Savills IM, one of Europe’s leading real estate asset management platforms, by Samsung Life, the largest insurance company in South Korea and a Fortune Global 500 company.

Samsung Life will acquire an initial 25% stake in Savills IM, with the potential to acquire up to a further 10%. On May 27 2021, Samsung Life’s Board of Directors approved the acquisition of the initial stake for £63.75 million. Under the terms, Samsung Life has committed to provide capital of US$1 billion to Savills IM investment strategies over four years to support the business’ growth ambitions. The deal will strengthen Samsung Life’s position in real estate investment management in Europe and Asia.

Alongside the transaction, Samsung Life will enter into a Shareholders’ Agreement with Savills IM to cover the working relationship between the parties.

The deal involved a cross-border team at A&O, led by corporate partner Claire Coppel and regulatory partner Dominic von Wulffen, supported by associates Zara Sproul, Harriet Boyle, Emil George, Alistair Green and trainee Eliza Asare Parbi. The team also included the Samsung Life relationship team in Seoul and Singapore, Kyu Bang and Alun Evans, and global co-head of Corporate David Broadley. A&O fielded a multi-disciplinary team across corporate, regulatory, antitrust, tax, IP and HR across offices in London, Germany, Luxembourg, Singapore, Japan, Hong Kong, Sydney and Italy.