Moreover, KWM advised on the $650 million capital raising via a fully underwritten placement to institutional investors, and additional share purchase plan for eligible retail investors.

Value: $3.65 billion

Area: M&A, equity capital markets, corporate advisory.

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Key players: The KWM deal team was led by partners Jason Watts, Henrik Moritz, Tim Bednall, Bryony Evans, David Friedlander and Nathan Hodge.

Deal significance: Commenting on the agreement to sell AMP Life, Mr Watts said: “We were very pleased to see this come to fruition. the pathway to a simpler, more agile business that will enable AMP to focus on its higher growth businesses.”

And speaking about the capital raising, Mr Friedlander said: “Having acted for AMP for over 165 years, we were incredibly pleased to advise AMP in creating an immediate opportunity to implement its new strategy and fund ongoing growth across the core businesses.”

The sale of AMP Life is expected to complete in the first half of 2020.