The Japanese subsidiary of Prudential Financial Inc. said Wednesday that it has agreed to buy Aoba Life Insurance Co. in Tokyo from a French investment firm, Tawa SA.
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Prudential Life Insurance Co. Ltd., also based in Tokyo, is to pay about $180 million for Aoba. The deal is expected to close this year, pending regulatory approvals. The full integration of Aoba Life into Prudential Life's operations is expected to occur in the first quarter.
Tawa is a subsidiary of the Artemis Group.
