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Announced

Completed

TAL Dai-ichi Life completed the acquisition of the Australian life insurance business of Westpac for $662m.

Financials

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Transaction Value£476m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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life insurance broker

Single Bidder

Friendly

Life Insurance

Private

Australia

Acquisition

Domestic

Majority

Completed

Synopsis

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TAL Dai-ichi Life, a life insurance firm in Australia, completed the acquisition of the Australian life insurance business of Westpac, an Australian bank and financial services provider headquartered in Sydney, for $662m. "This transaction is another step in simplifying the bank while continuing to help customers with their life insurance needs by partnering with TAL," Jason Yetton, Westpac Group Chief Executive Specialist Businesses & Group Strategy.

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