Aluko & Oyebode is pleased to have advised AXA Mansard Insurance Plc in connection with the divestment of its shareholding from its subsidiary, AXA Mansard Pensions Limited (the “Company”).
The transaction involved the provision of legal advice to AXA Mansard Insurance Plc on the sale of its shareholding in the Company to Eustacia Limited, (a member of the Verod Group). AXA Mansard Insurance Plc, along with the minority shareholder in the Company, entered into a sale and purchase agreement with Eustacia Limited for the transfer of the entire issued share capital of the Company, subject to relevant regulatory approvals.
AXA Mansard Insurance Plc, a provider of life insurance and non-life insurance products and services in Nigeria is a subsidiary of the global insurer, AXA Group. Aluko & Oyebode previously advised AXA Group on its purchase of a majority stake in Mansard Insurance Plc, and the subsequent investment in the Company (then known as Penman Pensions Limited).