Taylor Wessing advises Principal Investment Holdings Ltd on sale to Sanlam
Taylor Wessing LLP has advised the board of Principal Investment Holdings Limited ("Principal") in connection with the offer by Sanlam, the second largest insurer in South Africa, to acquire the entire issued share capital of private client portfolio management specialist Principal for a combination of cash and shares.
The offer values Principal at approximately £42 million.
Principal will continue as an autonomous business, operating from its three existing locations in Sevenoaks, London and Bath with the Principal brand name maintained.
Sanlam already has a successful private client investment business in its home market and is now seeking, through Principal, to build a substantial presence in the UK private client market.
The Taylor Wessing team advising the board of Principal included financial institutions and market group partner Peter Kempe, tax partner Peter Jackson as well as financial institutions and market group trainees Frances Bentley and Clare Battersby, employment associate Rowena Kay, tax associate Omleen Ajimal and options associate Anthony Metcalfe-Gibson.
Notes to editors
For more information please contact Claire Treacy at Taylor Wessing:
Tel: +44 (0)20 7300 4925
Email: c.treacy@taylorwessing.com
Taylor Wessing LLP is a leading law firm providing legal support for commercial organisations doing business in Europe, the Middle East and China. Based in Belgium, Dubai, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.