Brookfield Reinsurance’s $4.3 Billion Acquisition of AEL

On July 5, 2023, Brookfield Reinsurance, which operates a leading capital solutions business providing insurance and reinsurance services to individuals and institutions, and American Equity Investment Life Holding Company (“AEL”) announced that they have entered into a definitive agreement whereby Brookfield Reinsurance will acquire all of the outstanding shares of common stock of AEL it does not already own in a cash and stock transaction that values AEL at approximately $4.3 billion. Cravath is representing Brookfield Reinsurance in connection with the transaction.

The Cravath team is led by partner Richard Hall and includes associates Adam M. Sanchez, Paul D. Kim, Evan S. Gabor and Abhilasha Gokulan on M&A matters; partner Matthew M. Kelly and associates Peter W. Kim and Sophia Premji on financing matters; partner Lauren Angelilli and associate Kyle R. Jorstad on tax matters; partner Amanda Hines Gold and associates Brendon J. Rivard and Molly E. Nichols on executive compensation and benefits matters; associate Zachary W. Jarrett on litigation matters; partner Jeffrey T. Dinwoodie, of counsel Jesse M. Weiss and Benjamin G. Joseloff and associate Jonathan A. Gordon on regulatory matters; and practice area attorney Brian M. Budnick on real estate matters. Daphne Fong also worked on M&A matters and Tristan Baylor also worked on tax matters.