IMAS acted as exclusive financial adviser to Mobius Life in the sale of its bundled group pension business.
On 5th June 2018, Mobius Life has entered into a transfer agreement with Scottish Friendly for the sale of its bundled group pension business which has c.13,300 members and assets totalling some £350m. In accordance with the terms of the Scheme, the agreement subsequently received both regulatory and final court approval to transfer the bundled group pension business to Scottish Friendly on 9th November 2018.
Mobius Life is a fast-growing platform providing fund solutions and investment administration for life companies, asset managers and their consultants and trustees with over £12bn of assets under administration.
Scottish Friendly Assurance Society Limited is one of the largest mutual life offices in the UK with total assets of more than £2.7bn on behalf of some 550,000 members.
IMAS was responsible for planning and managing the entire disposal process, including the initial preparations, the marketing of the opportunity to several prospective buyers and final detailed negotiations with Scottish Friendly. Our work included specific valuation advice, deal structuring and the managing of a comprehensive auction process and execution of the transaction.