Debevoise & Plimpton LLP is advising StanCorp Financial Group, Inc. (or “The Standard”) in its sale to Meiji Yasuda Life Insurance Company (“Meiji Yasuda”) for a total transaction value of approximately $5.0 billion.

The transaction, which has been unanimously approved by both companies’ boards of directors, is expected to close in the first quarter of 2016 and is subject to customary closing conditions and regulatory approvals.

The Standard, founded in 1906 and headquartered in Portland, Oregon, is a leading provider of group life and disability insurance, individual disability insurance, retirement and investment products and services. Meiji Yasuda, founded in 1881 and headquartered in Tokyo, is the oldest and third largest life insurance company in Japan, with the largest share of group insurance in the Japanese market.

The Debevoise team is led by partners Nicholas F. Potter and William D. Regner and includes partners Lawrence K. Cagney and Peter F.G. Schuur and associates Spencer K. Gilbert, Shawn W.K. Lim, Sue Meng, Adam M. Namm, Daniel Priest and John Rothert.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.