TAL to acquire a 15.1% stake in Challenger from MS&AD for JPY80bn.

TAL, an Australian life insurer, offered to acquire a 15.1% stake in Challenger, a financial services company, from MS&AD, a global insurance organization, for JPY80bn. "Dai-ichi Life is a global leader in life insurance and we look forward to building a relationship that will benefit both our customers and shareholders. We welcome their significant investment in our business and will explore future opportunities that support our strategic objectives," Nick Hamilton, Challenger Managing Director and CEO.