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Acquisition Opportunity

Bid Deadline:
Monday 22 November 2021 at 4pm GMT

Insurance & Financial Services Brands

Hilco Streambank is seeking offers to acquire certain intellectual property assets of Intu Properties plc (in Administration) and Liberty International Holdings Limited (in Administration) (the “Companies”) on behalf of the Joint Administrators of the Companies Jim Tucker, David Pike and Mike Pink, all of Interpath Ltd.

Background

Hilco Streambank is seeking offers to acquire a portfolio of legacy insurance and financial services brands and related intellectual property assets which have come to the market following the Administration of the Intu Group.

This is a rare opportunity to acquire major heritage brands which would facilitate entry to or expansion within the financial services and other industries.

Available Assets

Brands

Liberty Life

Liberty International Holdings Limited (in Administration) was historically the transatlantic arm of Liberty Life Association of Africa Limited (trading as “Liberty Life”) which brought this long-established international brand to the UK. Liberty Life was at one time the largest proprietary life office and third-largest life insurer in South Africa, previously listed on the Johannesburg and London Stock Exchanges. The brand has international associations and a 60-year heritage, having been founded by Sir Donald Gordon in 1957. The Liberty Life brand is well-known and highly regarded. The name embodies the values of freedom and opportunity. It has a myriad of applications across the financial services and insurance industries. Acquisition of the UK trade mark detailed below offers a prospective buyer the chance to revive the brand in the UK market.

Liberty International

Before re-branding as CSC and later Intu, the Group traded for many years as Liberty International: a brand name that continues to resonate. Liberty International was established in the UK in 1980. At its incorporation, the primary objective of Liberty International Holdings Limited (in Administration) was to create a high calibre, international life insurance, pensions, asset management and property-based financial services group to serve the English-speaking world. Liberty International grew to become a leading investor in life assurance businesses in the 1980s and early 1990s before pivoting towards the operation and management of shopping centres. With an impressive legacy within insurance and financial services, the robust Liberty International brand is of high stature.

PensionStore

1997 saw the launch of Liberty International Pensions, trading under the brand name PensionStore. Once with £50 million of regulatory capital, this UK pensions operation specialised in defined contribution unitised pension arrangements. PensionStore was a direct, one-stop pension shop that aimed to be honest and uncomplicated with the “PensionStore” name communicating those values. Sales were primarily telephone-based (via a Peterborough-based operations centre). PensionStore retail outlets were also located in shopping centres owned by the wider group. The PensionStore concept was described at the time as a revolutionary idea on how to market pensions on the high street. Awareness of the brand was enhanced by a £5m television advertising campaign. Thoughtfully developed, the brand identity featured three discs in blue for authority and prudence, green for security and fertility, and orange for accessibility.

Trade Marks

The various brand names are protected registered trade marks detailed below.

Liberty International plc and Liberty International Holdings plc are previous names of Intu Properties plc (in Administration) and Liberty International Holdings Limited (in Administration) respectively.

Domain Names

The following domain names are available to acquire:

Sale Process

Offers for the intellectual property assets are due November 22, 2021 @ 4pm GMT

All expressions of interest and offers should be directed to Hilco Streambank in writing. A Bid Submission Form for submitting offers is available on request.

For details of the related Intu and Shopping Centre Brands intellectual property sales, see our further listings here and here.

Key Terms & Conditions

The bidder acknowledges that Hilco acts as an agent for the Joint Administrators of the Companies who offer for sale only what right, title and interest (if any) the Companies possess in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Joint Administrators and bidders are deemed to have carried out their own due diligence.

VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. A buyer’s premium of 10% of the sale price is payable by the winning bidder. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank’s full Terms and Conditions apply.

Contacts