Appleby acted as legal counsel to the seller of Northstar Group (Bermuda) Limited and its wholly-owned subsidiary, Providence Life Assurance Company Limited to Alpha Growth Plc.
The buyer acquired 95% of the issued share capital of Northstar Group (Bermuda) Limited and an option to acquire the remaining 5%. The seller is remaining involved in the business to assist with transition of client and regulator relationships.
Appleby provided Bermuda law advice to the seller of Northstar Group (Bermuda) Limited, including advising on structuring the transaction, necessary regulatory approvals, assistance through the due diligence process and in relation to arrangements for managing the ongoing relationship between seller, buyer and target post-closing.
Partner Brad Adderley led this transaction with assistance from Senior Associate Josephine Noddings.