Davis Polk is advising PartnerRe Ltd. in connection with its approximately $6.9 billion acquisition by EXOR S.p.A. In connection with the execution of the agreement with EXOR, PartnerRe and AXIS Capital have terminated their amalgamation agreement. The transaction is expected to close in the first quarter of 2016, subject to approval by PartnerRe shareholders, regulatory clearances and other customary closing conditions.

PartnerRe is a leading global reinsurer, providing multi-line reinsurance to insurance companies. EXOR is one of Europe’s leading investment companies and is controlled by the Agnelli Family.

The Davis Polk corporate team includes partner Phillip R. Mills and associates Daniel Brass, Zain Ur Rehman and Felipe M. Heiderich. Partner Kyoko Takahashi Lin and associate Jessie M. Ferguson are providing executive compensation advice. Partners Neil Barr and Michael Mollerus and associate Anne E. McGinnis are providing tax advice. Partner Richard J. Sandler is providing capital markets advice. All members of the Davis Polk team are based in the New York office.

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