SPRINGFIELD, Mass. - MassMutual Financial Group has closed a $20 million deal that gives it 99% of Tokyo's Aetna Heiwa Life Insurance Co.
MassMutual purchased approximately 25.7 million shares. All were held by Aetna International Inc., which ING Group bought in December.
MassMutual had owned 4% of $4.5 billion-asset Aetna Heiwa.
Completion of the deal, which was originally announced July 25, was announced Tuesday.
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