Slaughter and May, working as a team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, has recently advised Brit PLC, a global specialty insurer and reinsurer, on Brit’s initial public offering of its ordinary shares.

The offer comprised the sale of 100,000,000 ordinary shares, a quarter of Brit’s ordinary shares in issue, by existing shareholders, being funds affiliated with Apollo Global Management, funds managed by CVC Capital Partners and management. The offer price was 240 pence per share, resulting in a total market capitalisation at the commencement of conditional dealings of £960 million. Total gross proceeds received by the selling shareholders were approximately £240 million. The ordinary shares were admitted to the premium segment of the Official List and to trading on the main market of the London Stock Exchange on 2 April 2014.

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised on U.S. law.

CONTACTS

Corporate and Commercial: Jeff Twentyman (partner), Richard Smith (partner), Lomax Ward (associate), Kurt Ma (associate), Ella Smith (associate), Felicity Trocmé (associate), Financial Regulation: Jan Putnis (partner), Kristina Locmele (associate), Isabel Paintin (associate); Pensions and Employment: Jonathan Fenn (partner), Sarah Ferguson (associate), Katherine Flower (associate), Harriett Clover (associate); Tax: Gareth Miles (partner), Venetia Jennings (associate)

Paul, Weiss, Rifkind, Wharton & Garrison: Corporate Finance: Mark Bergman (partner), Patricia Vaz de Almeida (counsel), Nitin Konchady (associate), Lyudmila Bondarenko (associate), Yasmeen Rouben (associate)