Herbert Smith Freehills is advising Commonwealth Bank of Australia (CBA) on the sale of its global asset management business, Colonial First State Global Asset Management (CFSGAM) to Mitsubishi UFJ Trust and Banking Corporation (MUTB). The total expected cash consideration for the sale is A$4.13 billion.

CFSGAM operates across the European, US and Asia Pacific regions. CFSGAM is also known outside of Australia as First State Investments and has A$213 billion in assets under management.

International Law Firm Pinsent Masons has advised The Royal London Mutual Insurance Society Limited on the sale of Royal London Asset Management CI Limited and Royal London Custody Services CI Limited.

Both businesses manage cash on a segregated account basis and are based in Guernsey.

They have been acquired for an undisclosed sum by the Channel Island-based investment services group, Ravenscroft Holdings Limited.  The sale will increase Ravenscroft's assets under administration to more than £6.5 billion.

International legal practice Osborne Clarke has advised the sellers of digital agency TH_NK on its sale to EPAM Systems, a leading global provider of digital platform engineering and software development services.

Edinburgh—Dentons has advised the shareholders of Hugh King & Co Holdings Ltd., Scotland's largest independent producer of dried mortar and render products and one of the UK's leading suppliers of sports sand, on the sale of the company to leading Scottish quarry firm Tillicoultry Quarries Ltd.

Leading global law firm Baker McKenzie has advised Gilde Buy Out Partners (Gilde) on the sale of the Riri Group (Riri) to Chequers Capital. Closing of the transaction is expected by the end of November 2018. Financial terms of the transaction are not disclosed.

Baker McKenzie had previously advised Gilde in 2014 on the acquisition of Riri and later in the setup of the management participation model.

Global law firm White & Case LLP has advised Legris Industries Group (Legris), the France-based diversified industrial group, on its sale of Savoye Logistics (Savoye) to Noblelift Intelligent Equipment Co. (Noblelift), a family-owned industrial group listed on the Shanghai Stock Exchange.

Frankfurt am Main – As part of a succession plan, the shareholder of the trendtours Touristik Group has sold all the shares to funds advised by Bregal Unternehmerkapital. The details of the deal were not disclosed. The relevant authorities have already granted the necessary approvals and the transaction has been completed.

De Brauw was lead counsel to eVision Holding B.V.

Client name
eVision Holding B.V.

Other parties involved
Wolters Kluwer

Nature of transaction

King & Wood Mallesons (KWM) has advised AMP on the $3.3 billion sale of its Australia and New Zealand wealth protection and mature business (AMP Life) to British operator Resolution Life.

The sale will see AMP receive $1.9 billion in cash, $300 million in preference shares and retain a $1.1 billion ongoing interest in AMP Life.