A Travers Smith team led by Corporate Partner, Edmund Reed and Tax Partner, Russell Warren, has advised the management shareholders of Key Retirement Solutions Limited ("KRS") on the sale of their interests in KRS to a new company backed by private equity firm Phoenix Equity Partners and on their new equity arrangements.

KRS is the UK’s leading independent distributor of equity release loans and a top ten distributor of annuities. It also provides estate planning services, whilst its subsidiary More2Life is a significant and fast growing equity release lender.

The sale is conditional on FCA change of control approval.

The Travers Smith team also included Emma Pearce (Senior Corporate Counsel), Asma Rashid (Corporate Associate) and Fflur Thomas (Tax Associate).

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