Clifford Chance

Clifford Chance advises AMP on its acquisition of stake in China Life Pension

Leading international law firm Clifford Chance has advised AMP Limited on its acquisition of a 19.99 per cent stake in China Life Pension Company Limited, the largest pension insurance company in China.

The acquisition, for a total consideration of AUD$240 million, makes AMP the first foreign company to purchase a stake in a Chinese pension company with licences for trustee services, investment management and account administration, allowing end to end services throughout China. China Life Pension Company provides enterprise annuities products to state-owned and private enterprises and is one of only five pension insurance companies in China. 

Last year, Clifford Chance also advised AMP Capital on its joint venture with China Life Asset Management Company to offer retail and institutional investors in China access to investments in domestic listed equities and fixed income.

Beijing Corporate partner Terence Foo led on this transaction.