Linklaters Advises Phoenix Group's £248M Sun Life Bid

By Najiyya Budaly (August 4, 2022, 2:25 PM BST) -- British retirement business Phoenix Group said Thursday that it plans to snap up Sun Life of Canada UK, a closed-book life insurer, for £248 million ($300 million) in cash from Canadian financial services company Sun Life Financial Inc.

Phoenix Group Holdings PLC, which is listed on London's FTSE 100 index, said it will buy Sun Life Assurance Company of Canada (UK) Ltd., which holds books of life insurance that are closed to new customers.

Linklaters LLP is advising Phoenix, with corporate partners Dan Schuster-Woldan and Lorna Tennent leading on the deal.

Shares in Phoenix Group were up 2% on Thursday morning at...

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