Athene Holding Ltd. (“Athene”) announced today the pricing of the initial public offering (the “IPO”) of USD 1.08 billion worth of Class A common shares on the New York Stock Exchange (excluding greenshoe). All of the Class A common shares are being sold by certain shareholders of Athene, and Athene will not receive any proceeds from the IPO.
Athene, through its subsidiaries, is a leading retirement services company that issues, reinsures and acquires retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs.
NautaDutilh acts as Dutch law advisor to AP Alternative Assets, L.P. ("AAA"), the largest shareholder of Athene and listed on Euronext Amsterdam. Special about this transaction was, from a Dutch perspective, the partial exit of AAA in the IPO by way of a dividend in the form of Athene shares to AAA unitholders and subsequent sales into the IPO by AAA unitholders. The structuring of this transaction was unprecedented on any Euronext market and led to legal and practical challenges which we were able to resolve due to excellent team work between the many parties involved.
Goldman, Sachs & Co., Barclays, Citigroup and Wells Fargo Securities are acting as joint bookrunners. Amongst others Sidley Austin LLP, Weil, Gotshal & Manges LLP and Fried, Frank, Harris, Shriver & Jacobson LLP act as counsel to the various parties in this transaction. NautaDutilh acts alongside Paul, Weiss, Rifkind, Wharton & Garrison LLP and Cooley LLP as counsel to AAA.
The NautaDutilh team consists of Petra Zijp, Antonia Netiv, Wouter Wehmeijer and Sascha van Gerrevink.
Read here the article in The Wall Street Journal.