Leading independent Isle of Man law firm, Cains, has recently advised Metrowise Limited, a subsidiary of international insurance services provider Charles Taylor Plc, in connection with the sale of its Isle of Man companies to Monument Re Limited.
The deal, which is subject to customary closing conditions including receipt of regulatory approvals, will see Metrowise Limited sell the entire issued share capital of LCL International Life Assurance Company Limited and Charles Taylor Holdings (IOM) Limited.
Charles Taylor is a global provider of professional services and technology solutions, which employs approximately 3,000 staff in 120 locations, spread across 30 countries in the UK, the Americas, Asia Pacific, Europe, the Middle East and Africa.
Cains’ corporate and commercial team, which was led by Scott Leonard-Morgan with support from Kirsten Middleton and Jonathan Latham, acted as lead Isle of Man legal advisors, assisting Metrowise throughout all stages of the transaction, including preparing and negotiating the sale and purchase agreement and advising on all sell side aspects.
Scott Leonard-Morgan, Director of Cains, said: “We are delighted to have assisted Metrowise Limited in relation to the sale of its Isle of Man operations to Monument Re Limited. Our team have had a busy quarter, advising on numerous successful sales and acquisitions, which underpins not only our reputation as the leading Isle of Man law firm for mergers and acquisitions transactions, but the continuing attractiveness of Isle of Man businesses to both local and international investors.”