Freshfields advised Cinven on the sale of Viridium Group

Freshfields advised Cinven on the sale of Viridium Group

The transaction consists of consortium and is subject to regulatory approvals and customary closing conditions.

Global law firm Freshfields advised Cinven on the proposed sale of Viridium Group to a consortium comprising Allianz, BlackRock, T&D Holdings, HannoverRE and Generali. The transaction is subject to regulatory approvals and other customary closing conditions.

Viridium is a leading life insurance consolidator with €67bn of assets under management, 3.4m policies and about 900 highly specialised employees. It makes existing life policies more attractive and creates tangible value for its customers and shareholders.

Cinven is a global private equity firm with a strong European presence. In 2014, the Cinven Funds invested in Heidelberger Leben, a German life and retirement insurance provider later renamed Viridium Group. With Cinven’s support, Viridium enhanced its asset management strategies and invested over €700 million in a cutting-edge technology and operations platform, making it one of the most advanced life insurance consolidation platforms globally.

The Freshfields team was led by Wessel Heukamp (Partner) and Verena Nosch (Partner) – both Corporate/M&A, Munich – with support from David Schwintowski (Counsel, Corporate/M&A, Singapore), Lorenz Koffka (Principal Associate, Corporate M&A, Hamburg), and Thimo Brand (Associate, Corporate/M&A, Munich).

The due diligence team included David Beutel (Partner, Tax, Munich), Thomas Granetzny (Partner, Employment Law, Düsseldorf), Ulrich Sittard (Partner, Employment Law, Düsseldorf), Martin McElwee (Partner, Antitrust, London), and Aled Batey (Partner, Finance, London); Lukas Pomaroli (Counsel, Compliance, Vienna) and Martin Rehberg (Counsel, Tax, Munich).

Principal Associates involved were Mathilde Beaumunier (Antitrust, Berlin), Anna Dominke (Frankfurt), Maximilian Zellerhoff (Hamburg) – both Corporate/M&A, Theresa Kreft (Finance, Munich), Moritz Lehmann (Tax, Munich), Michael Schwaab (Data, Frankfurt), and Julia Horbach (Finance, London).

Other team members included Sonam Cheema (Associate, Finance, London), Tobias Kalb (Associate, Employment Law, Munich), and Tino Haupt, Marc Lebioda, Nicolas Ormanns, Franz Pechmann, Jonas Regener, Jieyue Shi (all Associates, Corporate/M&A, Munich), and Anna Smith (Associate, Antitrust, London).

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