Truist Financial Corp. plans to sell a majority stake of its insurance business to a consortium of buyers led by private equity firms Stone Point Capital and Clayton Dubilier & Rice.
Mubadala Investment Co., an Abu Dhabi-based sovereign wealth fund and other co-investors will also participate in the purchase. The transaction is expected to complete in the second quarter of the year.
Davis Polk & Wardwell served as legal counsel to Truist. Its team includes financial institutions M&A partners Oliver Smith, Evan Rosen, Margaret E. Tahyar and Eric McLaughlin, tax partner William Curran, executive compensation partner Adam Kaminsky, capital markets ...
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