BB&T IHC International Ltd. agreed to acquire 16.9% stake in Miller Insurance Services LLP from Willis Group Holdings Public Limited Company (NYSE:WSH) on October 1, 2015. The transaction is subject to customary closing conditions including regulatory approval and is expected to close in the fourth quarter of 2015. Willis will continue to hold a 68.1% stake in Miller, while partners of Miller will retain 15%. Deutsche Bank Securities Inc. acted as financial advisor to BB&T. Claire McDaid and Gregory Astrachan of Willkie Farr & Gallagher LLP and Richard K. Kim of Wachtell, Lipton, Rosen & Katz acted as legal advisors to BB&T. Perella Weinberg Partners LP acted as financial advisor and Gavin Davis, Barnaby Hinnigan, Shaun Lee, Charles Steward and Josh Lom of Herbert Smith Freehills LLP acted as legal advisor to Willis Group Holdings Public Limited Company.

BB&T IHC International Ltd. cancelled the acquisition of 16.9% stake in Miller Insurance Services LLP from Willis Group Holdings Public Limited Company (NYSE:WSH) on January 14, 2016. Due to unanticipated regulatory hurdles in the United States related to the investment, BB&T is no longer pursuing the transaction.