A tax and corporate team, led by tax partner Kathleen Russ and corporate partner Edmund Reed, have advised Partnership Assurance Group Plc (“PAG”) and its management team on matters relating to management shareholders and option holders in connection with the company’s listing on the main market of the London Stock Exchange on 12 June 2013 and an IPO involving the sale of shares by the management team and funds managed by Cinven.
PAG, one of the UK’s fastest growing companies, specialises in financial products for individuals whose life expectancy is likely to be reduced as a result of lifestyle factors or serious illness. The £1.54 million market capitalisation implied by the offer price is expected to be sufficient to place it within the FTSE 250 index.
Tax advice to PAG and its management shareholders was provided by team led by Kathleen Russ and including senior counsel Hannah Manning and senior associate Jessica Kemp. Edmund Reed, Ian Keefe (associate) and Athene Blakeman (senior associate) provided corporate law advice and Mahesh Varia (head of the Employee Incentives group) advised on matters relating to the group’s share option schemes.
