Dai-ichi Life to Buy 15% Stake in UK's M&G in Partnership Deal
M&G Plc has struck a deal with Dai-ichi Life Holdings Inc. that will see the Japanese insurer take a 15% stake in the UK money manager.
London-based M&G will become Dai-ichi Life's preferred asset management partner in Europe, according to a statement on Friday. The partnership is expected to generate at least $6 billion in new business flows into funds managed by M&G and $2 billion likewise for Dai-ichi Life over the next five years.
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