NU Online News Service, Sept. 22, 2004, 5:31 p.m. EDT
Prudential Financial Inc., Newark, N.J., has agreed to acquire control over Aoba Life Insurance Company Ltd., Tokyo, from a French investment company.[@@]
A Prudential unit in Japan, Prudential Life Insurance Company Ltd., plans to pay Aoba Life’s current owner, Tawa S.A., the equivalent of about $180 million for Aoba Life, Prudential says.
Prudential hopes to complete the deal, which is subject to approval by the Financial Services Agency of Japan, by the end of the year.