UK mutual insurance company Friends' Provident is to buy London & Manchester, a life insurance company. The deal is valued at £750 million ($1.2 billion) and will make Friends' Provident the UK's fourth-largest mutual life insurance company.
Herbert Smith in London is advising Friends' Provident. The tax partner working on the deal is Ross Fraser.
Advising London & Manchester is Clifford Chance in London. Tax partner for the deal is Douglas French.
