TOKYO, Sept 4 (Reuters) - Dai-ichi Life Holdings Inc 8750.T said on Tuesday it would buy Suncorp Life, an Australian life insurance unit of Suncorp Group Ltd (SUN) , for A$640 million ($460 million), in the latest overseas expansion for a Japanese insurer grappling with a shrinking domestic market.
Dai-Ichi Life said in a statement it expected to close the deal between December and February 2019. The impact of the acquisition was being examined, it said.
A 20-year strategic alliance is also being finalised with Suncorp to sell life insurance products through Suncorp Group's distribution network, Dai-Ichi Life said.
($1 = 1.3872 Australian dollars)
News: SUN Japan's Dai-Ichi Life to buy Suncorp Life for $460 mln
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Last
$20.60 |
Change
0.120(0.59%) |
Mkt cap ! $22.30B | |||
| Open | High | Low | Value | Volume |
| $20.36 | $20.60 | $20.28 | $38.58M | 1.878M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $20.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.62 | 1120 | 2 |
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| SUN (ASX) Chart |