NEW YORK, Dec. 5, 2017 /PRNewswire/ -- Law firm Stroock is representing Atlas Merchant Capital as co-lead investor in the pending acquisition of Talcott Resolution, the run-off life insurance and annuity division of The Hartford.
Total consideration to The Hartford of $2.05 billion is comprised of cash, a pre-closing dividend, transferred debt, and a 9.7 percent ownership interest in the acquiring company. The transaction will generate total value to The Hartford's shareholders of approximately $3 billion. The deal is expected to close in the first half of 2018.
Other Stroock attorneys who assisted on the transaction include partners Michelle Jewett; Jeffrey Lowenthal; Ian DiBernardo; Steven Rabitz; Michele Jacobson and Robert Lewin; special counsels Beth Norton, Jeffrey Mann and Francis Healy; and associates Gary Ho, Carolyn Cox, Belinda Gao, Brian Friederich and Daniel Park.
Mr. Nadell and Stroock have been prominent players in other major insurance M&A transactions, including ORIX's $963 million acquisition of The Hartford's variable annuity business in Japan and multiple investments by Atlas.
Stroock provides strategic transactional, regulatory and litigation advice to advance the business objectives of leading financial institutions, multinational corporations and entrepreneurial businesses in the U.S. and globally. With a rich history dating back 140 years, the firm has offices in New York, Los Angeles, Miami and Washington, DC. For more, visit www.stroock.com.
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