Alignvest will acquire all of the shares of Sagicor by way of a scheme of arrangement under Bermuda law. The transaction is valued at approximately $536 million and is expected to close in the late first half of 2019, subject to customary shareholder and regulatory approvals. Sagicor operates in 22 jurisdictions, including Barbados, Trinidad & Tobago, and Jamaica, and has a growing presence as a provider of life insurance products in the United States.
The Paul Hastings team was led by partners Cathleen McLaughlin and Robert Leung and also included partners Mike Huang, Eric Keller, Andrew Short and Matthew Poxon, of counsels Jason Hill and Michael Wise, associates Daniel Grossman, Alex Herman, Melanie Sedrish, Stephen Grace, Brooke Schachner and Sabin Chung, and law clerk Bo-Shan Xiang and Catherine Kennedy.
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