Mitsui Sumitomo to Acquire 21.87% Stake in Max Financial Services for $57m.

Mitsui Sumitomo, a Japanese insurance holding company, agreed to acquire 21.87% Stake in Max Financial Services, a life insurance company, for $57m. This will enable the company to simplify the shareholding structure in its subsidiary and have more flexibility to attract strategic investments in Max Life in the future and yet maintain its significant majority ownership.