Allianz (UK) Limited agreed to acquire General Insurance Business from Legal & General Group Plc for approximately £240 million on May 31, 2019. Once the transaction has been completed, the intention is to combine the Legal & General general insurance business with LV General Insurance Group (LV GIG). As part of the agreement, the Legal & General brand will continue to be used in the UK general insurance market for up to three years. The transaction is subject to customary regulatory approvals. The transaction is expected to complete in the second half of 2019. As of June 5, 2019, the transaction is expected to complete by the end of 2019. The proceeds from the disposal will be reinvested in Legal & General's attractive and growing core businesses. On September 27, 2019, the European Commission approved the transaction. Bank of America Merrill Lynch acted as financial advisor Allianz SE, ultimate parent of Allianz (UK) Limited. Craig Cleaver, Nick Pacheco, Oliver Broomfield, Thomas Peacock, Valerie Kemp, Christopher Koay, Elissa Foord, Kerry O'Connell, Naomi Burgoyne, Ben Kingsley, Tim Fosh, Tom Hilton-Stevens, David Ives, Matthew Harman, Gareth Miles, Kyle O'Sullivan and Rebecca Cousin of Slaughter and May acted as legal advisors to Allianz (UK) Limited. Fenchurch Advisory Partners Limited acted as financial advisor for Legal & General Group. Hilary Evenett and Nakita Patel of Clifford Chance LLP acted as legal advisors to Legal & General Group Plc (LSE:LGEN) Allianz (UK) Limited completed the acquisition of General Insurance Business from Legal & General Group Plc on January 1, 2020. As part of transaction, General Insurance Business combined with V General Insurance Group. In related transaction Allianz Holdings plc acquired remaining 51 percent of the LV General Insurance Group (LV GIG) from Liverpool Victoria Friendly Society.