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Great-West Lifeco subsidiary Irish Life completes acquisition of strategic holding in Invesco Ltd (Ireland)

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Great-West Lifeco subsidiary Irish Life completes acquisition of strategic holding in Invesco Ltd (Ireland)

Canada NewsWire

TSX:GWO

Advances Irish Life's position as the leading provider of life insurance, pensions and investments

WINNIPEG, Aug. 9, 2018 /CNW/ - Great-West Lifeco Inc. today announced that its Irish subsidiary, Irish Life Group Limited, has completed the previously-announced acquisition of a strategic holding in Invesco Ltd (Ireland), Ireland's largest Irish-owned independent financial consultancy. Terms of the transaction were not disclosed.

"Irish Life is the leading provider of life insurance, pensions and investments in Ireland and we are pleased to extend our position further with this strategic investment in Invesco," said Paul Mahon, President and Chief Executive Officer, Great-West Lifeco.

The transaction is expected to be earnings accretive, although not material to Great-West Lifeco's financial results.

About Invesco Ltd (Ireland)
Established in 1991, Invesco is Ireland's leading Irish-owned independent financial consultancy. With over 27 years' experience in advising corporates and individuals, Invesco's mission is to protect the future financial security of its clients.

About Irish Life Group Limited
Irish Life is one of Ireland's leading financial services companies with over 1.3 million customers. For over 75 years, Irish Life has been helping people in Ireland look after their life insurance, pension and investment needs and more recently, health insurance.

About Great-West Lifeco Inc.
Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco has operations in Canada, the United States and Europe through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments. Great-West Lifeco and its companies have over C$1.4 trillion in consolidated assets under administration as of June 30, 2018 and are members of the Power Financial Corporation group of companies. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO. To learn more, visit greatwestlifeco.com.

SOURCE Great-West Lifeco Inc.

View original content: http://www.newswire.ca/en/releases/archive/August2018/09/c8802.html

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