I wanted to let you know that Debevoise is advising Anbang Insurance Group Co., Ltd., a leading global comprehensive insurance group based in Beijing, China, in the acquisition of Fidelity & Guaranty Life, a leading provider of annuities and life insurance in the U.S., for $26.80 per share.
While Anbang has been acquiring assets in other sectors, buying New York’s Waldorf Astoria Hotel for $1.95 billion earlier this year, this marks the Chinese insurer’s first acquisition of a U.S. insurance company.
More information is available in the company press release at the following link: http://www.prnewswire.com/news-releases/anbang-insurance-group-to-acquire-fidelity–guaranty-life-300174593.html?tc=eml_cleartime.
The Debevoise team is led by partners Eric R. Dinallo and David Grosgold and includes partner John M. Vasily and counsel Eugene Benger and Stuart J. Valentine.
