Latest news with #MandG
Japan Times
3 days ago
- Business
- Japan Times
Dai-ichi Life to buy $1.1 billion M&G stake in partnership
Dai-ichi Life Holdings and M&G have struck a distribution partnership that will see the Japanese firm take a roughly $1.1 billion stake in the U.K. money manager. Japan's largest listed life insurer plans to buy about a 15% stake via on-market purchases, according to a statement on Friday. The stake would make Dai-ichi Life the largest shareholder of M&G, according to data compiled by Bloomberg. Shares in M&G rose as much as 8.6% in early London trading, its biggest intraday gain since February 2023.
Reuters
3 days ago
- Business
- Reuters
STOXX 600 edges down on US trade uncertainties; set for monthly gains
May 30 (Reuters) - European shares dipped on Friday as caution prevailed after a U.S. court reinstated President Donald Trump's tariffs, even as the benchmark index neared a robust monthly gain. The continent-wide STOXX 600 index (.STOXX), opens new tab was down 0.1%, as of 0711 GMT, pressured by a temporary reinstatement of the most sweeping of Trump's tariffs a day after another court ordered an immediate block on them. However, the benchmark index was set for its first monthly advance in three, up 3.8% so far, capitalising on easing trade tensions and the recent U.S. fiscal concerns that forced investors to move away from American assets. On Friday, data showed German retail sales fell by 1.1% in April compared with the previous month. Investors also looked ahead to Germany's May inflation figures, to be released later in the day, that could offer more clues about the European Central Bank's policy decision next week. Among sectors, basic resources (.SXPP), opens new tab was the biggest drag and fell 0.9%, dragged by lower copper prices. The real estate (.SX86P), opens new tab supported the main index by rising 0.8%. M&G (MNG.L), opens new tab jumped 8.2% after it said Japanese life insurer Dai-Ichi Life Holdings (8750.T), opens new tab will take a 15% stake in the British insurer and asset manager as part of a strategic deal.
Bloomberg
3 days ago
- Business
- Bloomberg
FTSE 100 Live: UK Stocks Set to Rise, Pound Slips Back Below $1.35
Life insurance and asset management firm M&G has struck a deal with Japan's Dai-ichi Life, under which the latter will buy a 15% stake in the UK company. Under the strategic partnership, M&G will be Dai-ichi's preferred asset management partner in Europe. The Japanese group intends to build the stake in M&G via on-market purchases, which will mean no change to M&G's current issued share capital.
Yahoo
3 days ago
- Business
- Yahoo
Japan's Dai-Ichi Life to take 15% stake in UK's M&G as part of strategic deal
(Reuters) -M&G said on Friday it has formed a strategic partnership with Dai-Ichi Life Holdings in which the Japanese life insurer plans to take a 15% stake in the British insurer and asset manager. The partnership is expected to deliver at least $6 billion of new business flows for M&G and $2 billion of new business flows for Dai-ichi Life over the next five years, it said. M&G said it would become Dai-ichi Life's preferred asset management partner in Europe as part of the deal. Dai-ichi Life will have the right to appoint a director to the board of M&G for as long as it holds at least a 15% shareholding, the British firm said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
3 days ago
- Business
- Reuters
Japan's Dai-Ichi Life to take 15% stake in UK's M&G as part of strategic deal
May 30 (Reuters) - M&G (MNG.L), opens new tab said on Friday it has formed a strategic partnership with Dai-Ichi Life Holdings (8750.T), opens new tab in which the Japanese life insurer plans to take a 15% stake in the British insurer and asset manager. The partnership is expected to deliver at least $6 billion of new business flows for M&G and $2 billion of new business flows for Dai-ichi Life over the next five years, it said. M&G said it would become Dai-ichi Life's preferred asset management partner in Europe as part of the deal. Dai-ichi Life will have the right to appoint a director to the board of M&G for as long as it holds at least a 15% shareholding, the British firm said.
