Debevoise & Plimpton LLP is advising Jackson Financial Inc. (NYSE: JXN) and Prudential plc (NYSE: PUK) in the separation of Jackson through a demerger, which closed on September 13, 2021. The transaction, which is valued at approximately $2.5 billion, establishes Jackson as an independent, publicly-traded company.
Prudential shareholders of record as of the close of business on September 2, 2021 received a distribution of one share of Jackson’s Class A common stock for every 40 shares of Prudential ordinary stock held on the record date. Jackson’s Class A common stock is expected to commence “regular way” trading under the ticker symbol “JXN” on the New York Stock Exchange on September 20, 2021.
For more information, please read the company’s press release.
The Debevoise team is led by capital markets partners Peter Loughran and Eric Juergens and includes associates Aleena Aspervil, Benjamin Pedersen and Jongmin Char, insurance M&A partners Marilyn Lion and Nicholas Potter, counsel Andrew Jamieson and Keith Slattery and associates Ali Bazzi, AJ Salomon, Rebecca Sayles, Brita Siepker and Leron Solomon, tax partners Daniel Priest and Peter Schuur, associate Sabrina Hsieh and law clerk Kimberly Lee, benefits partners Lawrence Cagney and Jon Lewis and associate Charity Brunson Wyatt, finance partner Sunil Savkar, counsel Emilie Hsu and associates Marta Poplawski and Temitayo NeneAqua Umoren, investment management partner Marc Ponchione, litigation partner Susan Gittes and associate Katie Aber, and antitrust counsel Kyra Bromley.