Wellicht moeten we dit draadje maar hangen onder de Anbang vlag, ze hebben d'er zin an...
Chinese insurance group Anbang Insurance Group Co. and U.S. life insurance provider Fidelity & Guaranty Life said Monday Anbang will acquire FGL for $1.57 billion.
The transaction will make Anbang one of the largest insurers by market share in fixed indexed annuity products in the U.S., according to the company.
Stockholders of Fidelity & Guaranty Life will receive $26.80 per share in the deal, which is expected to close in the second quarter of 2016. The transaction represents a 2.2% premium over the stock's close Friday and a 29% premium over the $20.79-a-share closing price before the company announced it was undergoing a strategic review in April.
Anbang, which last year became known to the world as the buyer of Manhattan's Waldorf Astoria hotel, has closed smaller deals in Europe. Earlier this year, it agreed to buy and recapitalize Vivat, the insurance arm of SNS Reaal, a financial group owned by the Dutch government. In December, Anbang snapped up a small Belgian bank held by Dutch insurance company Delta Lloyd NV.
In September, Portugal's central bank said it ended talks with Anbang to sell Novo Banco SA, the Portuguese bank created out of failed lender Banco Espí rito Santo SA last year, and will begin negotiations with another bidder.
November 09, 2015 09:35 ET (14:35 GMT)
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