Janus Capital Group Announces Strategic Alliance with The Dai-ichi Life Insurance Company, Limited
Janus Capital Group (NYSE: JNS) today announced that it has entered into a strategic alliance with The Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) (TSE: 8750), the third largest life insurer in Japan. In connection with this transaction, Dai-ichi Life plans to acquire at least 15%, and no more than 20%, of JCG's outstanding common shares through open market purchases and potentially through the exercise of conditional options issued to Dai-ichi Life by JCG.
As part of this alliance, Dai-ichi Life will support JCG's distribution initiatives in Japan and plans to invest USD$2 billion of its general account assets with JCG, including seed capital for JCG investment strategies. Following Dai-ichi Life's accumulation of at least 15% of JCG's common shares outstanding, it is expected that an individual designated by Dai-ichi Life will be appointed to JCG's Board of Directors.
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