Regulatory approval for Blackstone’s acquisition of Lombard International Assurance
October 30, 2014
Lombard International Assurance is delighted to confirm that, following the agreement between Friends Life Group Limited and funds controlled by Blackstone on 11 July 2014 for the sale of the company, regulatory approval has been granted and the transaction is complete.
Blackstone is the world’s largest independent alternative asset manager with assets under management of $284 billion as at 30 September 2014.
Blackstone’s investment is a clear indication of its commitment to Luxembourg and to further strengthening Lombard International Assurance’s leadership position as the provider of choice of sophisticated wealth planning solutions for partners and clients using unit-linked life assurance.
The Luxembourg Minister of Finance Pierre Gramegna was pleased about the investment and said: “This
important commitment by such a prestigious international investor demonstrates the attractiveness of Luxembourg as an important financial centre.”
Further information can be found in the RNS issued by Friends Life Group Limited.
* Blackstone means the Blackstone Group L.P. and its affiliates. The Blackstone entity that owns Lombard International Assurance is BTO Monarch Luxembourg Holdings S.A.R.L., a company incorporated in Luxembourg.
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