Selling standards

Wood has been particularly busy recently. Yesterday the Scottish insurer sold its banking arm – Standard Life Bank – to Barclays (see story).

Of course it’s not only Wood that’s been burning the midnight oil thanks to this deal. Freshfields Bruckhaus Deringer corporate partner Claire Wills led her firm’s team advising Barclays while Slaughters’ corporate partner Craig Cleaver – who worked on the insurer’s demutualisation three years ago – stepped up for Standard Life.

The deal also handed Scottish firm Maclay Murray & Spens a handy instruction, advising Barclays on Scots law.

So while Standard Life might have sold its bank for peanuts – £226m instead of around £400m – what are the odds that the lawyers are happy?

You can bank on it.


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