Freshfields advises Standard Life on £2bn acquisition of Aegon UK

Global law firm Freshfields is advising Standard Life on its acquisition of Aegon UK plc (Aegon UK), containing the UK insurance and pensions operations of Aegon Europe Holding B.V. (Aegon), for a total consideration of £2bn.

Aegon UK is a leading UK savings and retirement platform, operating an interconnected model across workplace, adviser and advice platforms. The acquisition is expected to significantly strengthen Standard Life’s pensions and savings capabilities and customer offering, creating the UK’s largest retirements savings and income business.

Under the terms of the transaction, Aegon will retain a strategic relationship with Standard Life, with Aegon becoming a 15.3% shareholder in the enlarged group. The transaction is subject to certain regulatory conditions and is expected to complete around end 2026.

The Freshfields team is being led by partner George Swan, senior associates Brad Tapper and Maria Zaitseva and associates Megan Jamieson, Giles Barron and Obi Onwuchekwa, with support from asset management partner Andy Robinson, equity capital markets partners Tom Godwin and Doug Smith and counsel Richard Ho, IP/commercial partner Richard Lister and senior associate TK Egenti and associates Catherine Lally, Katie Hyewon Sa and Tariq Chastanet-Hird, regulatory partner James Smethurst and senior associate Craig Dewar and associate Noah Schmidt, finance partner Aled Batey and senior associate Terry Ayres, competition partner Martin McElwee and senior associate Anup Nandra and associates Ola Mclees and Lachlan Green, tax partner Jill Gatehouse and senior associate Ed Buxton and associate Ben Rees, people & reward partners Alice Greenwell and Dawn Heath and senior associate Symon Rowley and associate Rhianna Thornton-Reid, dispute resolution partner Piers Reynolds and senior associate Oliver Hamill, real estate partner David Seymour and associate Murad Cholak, and Dutch corporate partner Hanneke Rothbarth