The legal advisors on Beazley’s merger with Zurich

Beazley’s board agreed the terms of a recommended all cash offer by Zurich, for the entire issued and to be issued share capital of Beazley.

In connection with the transaction, Lenz & Staehelin, working alongside lead counsel Freshfields, advised Beazley. Homburger represented Zurich with respect to all Swiss law aspects of the new debt financing which, alongside existing cash resources and proceeds from Zurich Insurance Group’s recent equity raise, satisfied the cash consideration for the Beazley shares.

Pursuant to the agreement, Beazley’s shareholders will be entitled to receive a total value of 1,335 pence per share, comprising 1,310 pence in cash and a dividend of 25 pence per share. Moreover, they will be entitled to receive approximately £ 8.2bn in aggregate, on a fully-diluted basis.

The Lenz & Staehelin team

The Lenz & Staehelin team includes Tino Gaberthüel (corporate and M&A, pictured left), Simone Ehrsam (corporate and M&A, pictured right), Patrick Schärli (regulatory) and Marcel Meinhardt (antitrust).

The Homburger team

Stefan Bindschedler (financing) and Hansjürg Appenzeller (corporate / M&A, insurance) led the Homburger team on the matter, working alongside Fabrice Eckert (insurance, financing) and Matthias Müller (corporate / M&A). Dieter Grünblatt and Arbnor Sheholli provided tax advice.