Slaughter and May, working alongside the Standard Life in-house legal team, is advising Standard Life plc (Standard life), a leading provider of long-term savings and investments, on the proposed acquisition by its global investment management business of Ignis Asset Management Limited (Ignis) for £390 million in cash.

On 26 March 2014 Standard Life announced that Standard Life Investments had entered into an agreement with a subsidiary of Phoenix Group Holdings (Phoenix) to acquire its asset management business, Ignis. The transaction which is expected to complete on or before 30 June 2014 is conditional upon approval from the Financial Conduct Authority.

As part of the transaction, Standard Life Investments will enter into a strategic alliance with Phoenix through which Standard Life Investments will provide asset management services to Phoenix's Life Company subsidiaries, including the potential to manage future books of assets that Phoenix may acquire.

Jonathan Marks, who is leading the team at Slaughter and May says: "I am delighted to be working with Standard Life’s in-house legal team on this important transaction, the largest acquisition by Standard Life in its 190 year history".

Fenchurch Advisory Partners is acting as exclusive Financial Adviser and JP Morgan Cazenove is acting as Corporate Broker to Standard Life.

CONTACTS

Corporate and Insurance: Jonathan Marks (partner), Rob Coombes (associate), Jeremy Chew (associate), Will Oates (associate), Jack Edwards (associate; Financial Regulation: Ben Kingsley (partner), Kristina Locmele (associate), Edward Burrows (associate); IP/IT: David Ives (partner), Ellen Lambrix (associate); Pensions and Employment: Sandeep Maudgil (partner), Katherine Flower (associate), Brent Wright (associate; Tax: Gareth Miles (partner), Venetia Jennings (associate); Competition: Bertrand Louveaux (partner), Anna Lyle-Smythe (associate), Scott Pettifor (associate); Real Estate: John Nevin (partner), Kate Turner (associate)

Standard Life in-house legal team: Malcolm Wood (Group Company Secretary and General Counsel), David Burns, Sarah De Busk, Scott Crewes, Norman Dowie, Ashley Topping, Amanda Wright