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Anbang Insurance Group to Acquire Fidelity & Guaranty Life

11.12.15

The Firm is representing Anbang Insurance Group in connection with its acquisition of Fidelity & Guaranty Life (NYSE: FGL) for $26.80 per share in cash (approximately $1.6 billion in total). Subject to regulatory approvals and satisfaction of other customary closing conditions, the transaction is expected to close in the second quarter of 2016 and will make Anbang Insurance Group one of the largest insurers by market share in fixed indexed annuity products in the United States. 

Anbang Insurance Group is a leading insurance company based in Beijing, China with a global network of over 30 million customers and more than 35,000 employees. In addition to being one of the leading comprehensive insurance groups in China, Anbang Insurance Group’s global businesses include banking, insurance, securities and asset management in Belgium, the Netherlands and South Korea. 

The Simpson Thacher team includes Lee Meyerson, Michael T. Holick and Gabriela Botifoll (M&A); Jonathan Goldstein and Taylor Alexander (Tax); David Rubinsky and Holly Gurian (Executive Compensation and Employee Benefits); Lori Lesser and Michelle Morad (Intellectual Property); Steven DeLott (Insurance) and Michael Naughton (Antitrust).